Pigment, a Paris-based business planning platform, has secured $65 million in Series B+ funding led by IVP and Meritech Capital, bringing the total to more than $100M.
This round also follows a period of record ARR growth (to the tune of 5X in six months) and 10x global customer growth in just a year, and the release of several new product features.
The French company will use the investment for product development to attract more large enterprises and further expand in the US, where the company is already making strides.
“With so much economic uncertainty, it’s more important than ever for companies to be confident about their decision-making. With Pigment, companies can embrace it rather than fearing change, knowing they can make and execute informed decisions. We are extremely proud to serve customers like Figma, Carta, Brex, and Webhelp, all of whom chose Pigment in the past six months. Our latest round of funding strengthens our ability to shake up traditional EPM and become the next category leader,” says Eléonore Crespo, co-founder, and co-CEO of Pigment
The company has opened offices in New York and will soon set up in Boston.
Solving challenges in business
Founded by Eléonore Crespo and Romain Niccoli in 2019, Pigment aims to solve the challenges of running a business without centralised business planning.
The platform is designed to take on spreadsheets and legacy Enterprise Performance Management (EPM) systems with a user interface that makes it easy for any business user to adopt, not only Excel experts.
Pigment’s technology offers an intuitive and visually-driven experience, provides a 360° view of the business, updates financial models in real-time, and allows one to run what-if scenarios at the click of a button.
With Pigment, Finance, HR, and Revenue teams improve cross-functional collaboration, increase internal efficiency, and align financial and operational plans, all while scaling reporting and data management.
“In the past year, we have grown from 0 to 33 people supporting our North American operations, and we expect this to double in the next year”, says Eléonore Crespo, co-founder, and co-CEO of Pigment
“Pigment’s superior solution could not be more timely. Businesses of all sizes must equip themselves with the information they need to make the most important decisions. Pigment’s suite allows business leaders to do just that,” says Rob Ward, Co-Founder and General Partner of Meritech Capital.
“As a former CFO at Dropbox, I know business leaders at companies of all sizes need to surface actionable insights, particularly in market volatility quickly. Pigment delivers an unmatched business planning platform that finance leaders and executive teams are adopting en masse to accelerate topline growth and strengthen their resource allocation muscle. Under the leadership of the company’s visionary founders, we believe Pigment represents the future of EPM and business planning,” says Ajay Vashee, General Partner at IVP
