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Pigment today announced a $145 million Series D funding round, led by ICONIQ Growth, who also spearheaded Pigment’s Series C investment close to a year ago. Sandberg Bernthal Venture Partners as well as several other existing investors including IVP, Meritech, Greenoaks and Felix Capital have also participated in the round, demonstrating continued confidence in Pigment’s long-term growth trajectory.
Pigment is a business planning platform that helps organizations plan ahead and make better strategic decisions.
The funding follows a successful year for Pigment as the company tripled its annual recurring revenue, and doubled its customer base globally. The number of enterprise customers using Pigment also tripled. Global brands including Unilever, Merck, Keolis, Datadog, KAYAK and 6sense have all chosen Pigment for its unique combination of usability and scalability needed to make accurate yet timely decisions. Pigment has expanded its partner network, collaborating with leading consulting firms such as Deloitte, Slalom and BearingPoint.
In the past year, Pigment has strengthened its North American presence - the company’s largest market - following the opening of offices in New York and Toronto, along with several strategic hires. Notably, Jay Peir who joined as Global Head of Strategy from Tableau where he was EVP of Corporate Development and Strategy, and Sean Brophy as Global Head of Sales from Alteryx, where he led US Enterprise Sales. In France, Edouard Beaucourt is also joining from Snowflake as Pigment’s Head of EMEA.
Central to Pigment’s growth has been its ongoing emphasis on product innovation. On top of an already easy-to-use solution, notable product developments include generative AI capabilities to improve accessibility for all users and further adoption beyond the finance function. Today, more than 90% of Pigment customers use the platform across multiple departments, including finance, sales, HR, and supply chain.
Pigment will use the funds to continue driving innovation to fuel adoption of its planning platform.
Pigment also plans to accelerate its investments in generative AI to further support decision making and agility.
Pigment is a business planning platform that provides organizations with the tools needed to intuitively and intelligently build and adapt strategic plans. Industry-leading companies like Unilever, Merck, Klarna, PVH, Webhelp, Figma and Poshmark use Pigment every day to quickly get an accurate picture of their business, make better decisions, and focus more on executing strategy in a rapidly changing world. Learn more at www.pigment.com.
ICONIQ Growth partners with visionaries defining the future of their industries to transform the world. Our investment platform and unique ecosystem help amplify our portfolio companies’ success from early growth stage to IPO and beyond. Our portfolio includes Adyen, AirBnB, Alibaba, Alteryx, Automattic, BambooHR, Braze, Chime, Collibra, Coupa, Datadog, Docusign, Gitlab, Marqeta, Miro, Procore, Red Ventures, Relativity, ServiceTitan, Snowflake, Sprinklr, Truckstop, Uber, Wolt, and Zoom, among others. Elevated by our global community of founders, pioneers, and leaders, we are entrepreneurs backing entrepreneurs. For more information, please visit: iconiqcapital.com/growth.
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The best way to understand what Pigment could do for you is to see it in motion. Sign up for a personalized demo with our team today.
