Paris-based startup Pigment has achieved a significant milestone in its journey by securing an impressive $145 million funding round just five years after its founding. This achievement is particularly notable in the French technology ecosystem, which has been relatively lacking in large funding rounds in recent years.
Pigment stands out in the industry by offering a comprehensive business planning platform designed to help large companies visualize historical financial performance and accurately forecast future quarters. With high-profile customers such as Unilever, Datadog, Kayak, and Merck, Pigment has demonstrated exceptional growth, tripling its revenue and doubling its customer base in 2023 alone, with half of its customers based in the US. I'm leaving it there.
The Series D funding round, led by existing investor Iconiq Growth, included participation from notable backers including Sandberg Bernthal Venture Partners, IVP, Meritech, Greenoaks, and Felix Capital, demonstrating their belief in Pigment's vision and potential. I reconfirmed. Reflecting the market's eagerness to support Pigment's expansion plans, the startup's rapid success and promising trajectory prompted investors to offer favorable terms for the internal round.
Co-founded by Éléonore Crespo, who has a background in venture capital and Google, and Romain Niccoli, co-founder of Criteo, Pigment has emerged as a top player in the SaaS space. The platform provides customized and flexible business planning tools for chief financial officers, finance teams, sales teams, and human resources teams, enabling seamless collaboration and data-driven decision-making.
Pigment has built-in AI capabilities to streamline data analysis and reporting, with a focus on cross-team collaboration and enhanced user experience. By leveraging natural language processing capabilities, users can easily query Pigment AI for insights and actionable intelligence, increasing the utility and accessibility of the platform.
Pigment's commitment to innovation and customer-centric product development has established it as a strong competitor in the enterprise software market. As we continue to expand our reach and refine our offerings, we remain dedicated to delivering unparalleled value and delivering transformative outcomes for our clients.