Paris-based Pigment gets €134M to help businesses plan and make better strategic decisions

Paris-based Pigment, a business planning platform, announced on Thursday, that it has secured $145M (approximately €134M) in a Series D round of funding led by ICONIQ Growth.

Sandberg Bernthal Venture Partners, as well as several other existing investors, including IVP, Meritech, Greenoaks, and Felix Capital, have also participated in the funding round.

Fund utilisation

The company will use the funds to accelerate its growth and fuel the adoption of its planning platform. 

“Everything we do from a product perspective is designed to simplify decision-making and increase agility at scale,” says Romain Niccoli, co-CEO, of Pigment. 

“This spans all elements of product development, from an AI-powered user experience to innovating on Pigment’s core infrastructure, to deliver the scalable and reliable solutions that enterprises expect,” adds Niccoli.

Pigment also plans to invest in accelerating generative AI to support decision-making and agility. 

Niccoli, adds “So far, our generative AI investments have focused on helping users get insights faster and build reports more efficiently. Over time, our vision is that we will go from gradual improvements in efficiency to AI acting as a true co-pilot in the decision-making process.”

The company claims to have tripled its annual recurring revenue and doubled its customer base globally

Why Pigment?

FinOps and RevOps teams often use spreadsheets for Financial and Sales planning, which involves manually updating, and distributing data and can be time-consuming. 

Spreadsheets are not ideal for strategic planning and can create silos, hampering cross-functional collaboration. 

This can lead to a tedious process when planning should be driving strategy.

Pigment: Helps business plan ahead

Founded by Eléonore Crespo and Romain Niccoli, Pigment is a business planning platform that helps organisations plan and make better strategic decisions.

Various companies like Unilever, Merck, Klarna, PVH, Webhelp, Figma, and Poshmark use Pigment to quickly get an accurate picture of their business, make better decisions, and focus more on executing strategy, claims the company. 

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. 

Jay Peir joined as Global Head of Strategy from Tableau, where he was EVP of Corporate Development and Strategy and Sean Brophy joined as Global Head of Sales from Alteryx, where he led US Enterprise Sales. 

In France, Edouard Beaucourt is also joining Snowflake as Pigment’s Head of EMEA.

“Our north star has always been to combine an exceptional product and customer experience so that organisations can build the right plans and execute them quickly. This funding puts us in an even stronger position to continue fulfilling this commitment,” says Eléonore Crespo, co-CEO, Pigment. 

“We’re incredibly proud of the trust and confidence our investors place in the entire Pigment team, and we look forward to working alongside them as we enter the next phase of our journey,” adds Crespo. 

The investor

ICONIQ Growth is a tech-focused direct investment platform that is affiliated with ICONIQ Capital.

The VC’s investment platform and ecosystem help amplify its portfolio companies’ success from the early growth stage to IPO and beyond. 

The 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. 

“Since leading Pigment’s Series C less than a year ago, the company has successfully expanded into the enterprise market and across multiple functions and use cases much faster than we expected. This is a testament to the extraordinary team and product Eléonore and Romain are building,” says Seth Pierrepont, General Partner, ICONIQ Growth.

“We are exceptionally confident that Pigment is successfully addressing a clear and very large need in the market,” says Matt Jacobson, General Partner, ICONIQ Growth. “This confidence in the market, product, and team drove our enthusiasm to continue to support the company’s continued success.”