Pigment raises $65M to expand into U.S. enterprise market

‍The France-based business planning platform secures additional $65M in funding to help companies like Figma, Webhelp, Brex and Carta forecast amid market uncertainty.

PARIS - September 29, 2022 - Pigment, the integrated business planning platform helping companies make smarter, more informed decisions announces $65 million in Series B+ funding. IVP and Meritech Capital led the round of this latest funding that comes on the heels of the company’s Series A and Series B rounds that totaled 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.

Since its last round, Pigment has focused on growing its foothold of unicorns (18 and counting) and expanding into the enterprise and North America markets. Recent economic volatility has increased demand for Pigment. The company is now serving over 100 companies, including Paris-based BPO company Webhelp, as well as Gong, Figma, Carta and ClickUp.

Pigment’s investment will be used for product development to attract more large enterprises and further expand in the US, where the company is already making strides."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”.Eléonore Crespo, co-founder and co-CEO of Pigment

The company has opened offices in New York and will soon set up in Boston. And already, world-leading planning consultancies like Keyrus have joined Pigment’s channel to increase the company’s reach.

Despite not searching for investment, Pigment raised this round with new investors IVP and Meritech. Meritech was an early investor in Pigment’s key competitor today, Anaplan.

Founded by a duo who saw the challenges of running a business without centralized business planning, Pigment is designed to take on the likes of 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.

Driving stronger bottom lines through smart decision-making is where Pigment aims to make a difference. Rooted in the belief that “With better planning comes better outcomes,” Pigment has updated its state-of-the-art technology with several timely product features designed to tackle the complex work of business planning:

• “One click” scenario planning capabilities offer complex “what-if” scenarios in minutes, a feature first of its kind. This enables companies to quickly react to unforeseen circumstances, for instance, inflation hitting double-digits. Just 2-weeks after launch, 80% of Pigment’s customers were already using it, signaling the appetite for better decision-making.
• Scheduled imports to create and maintain reports with no IT dependency, and further data import automations with dozens of available integrations from Salesforce, NetSuite, Workday, Snowflake and more.
• A two-way data connector for Google Sheets to effortlessly build board presentations in one click. With nearly 80% of its users being business-facing, Pigment wants to ensure gathering inputs and reporting company results is seamless.

Pigment co-founders, Eléonore Crespo and Romain Niccoli are on a mission to help businesses create certainty amid the unknown.

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About Pigment

Driving stronger bottom lines through smart decision-making is where Pigment aims to make a difference. Rooted in the belief that “With better planning comes better outcomes,” Pigment has updated its state-of-the-art technology with several timely product features designed to tackle the complex work of business planning:

• a lack of transparency and insight into underlying data;
• the sheer quantity of data companies have and have to get their heads around;
• the static way it is often presented, making it hard to change and manipulate.

As a result, traditional planning and reporting wastes time and money, and the inevitable mistakes hamper most organizations.

By contrast, 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 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.

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About IVP

IVP turns breakout companies into enduring market leaders. With a 40-year record of driving growth and 130+ IPOs, we’ve partnered with over 400 companies including Amplitude, Brex, Coinbase, Crowdstrike, Datadog, Discord, Klarna, Slack, Snap, and Twitter. As trusted allies, IVP helps founders and CEOs meet the challenge of leading a rapidly growing company. Our proven system bolsters functions including those that are sometimes overlooked and our partners serve as trusted allies to companies seeking to realize their full potential.

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About Meritech Capital Partners

Meritech Capital Partners provides growth stage venture capital to category-defining private technology companies and has been one of the top performing venture firms of the past two decades. The firm was founded in 1999 and has cumulatively managed over $5 billion in total capital. Past and present investments include Alteryx, Anaplan, Auth0, Braze, Box, Coupa, Datadog, Duo Security, Facebook, Looker, MuleSoft, NetSuite, Proofpoint, Roblox, Salesforce, Segment, Snowflake, Tableau and UiPath. The firm has offices in Palo Alto, CA, San Francisco, CA and New York, NY and can be found at www.meritechcapital.com.