• Pigment provides a cloud-based platform for real-time business forecasting, catering to business strategy needs.
  • Pigment AI encompasses functions such as data querying, pattern recognition, intelligent insights, automated analysis and reporting, as well as guided modeling and scenario creation.

Recently, a startup specializing in business planning platforms, Pigment SAS, secured USD 145 million in fresh funding. This influx of capital is intended to accelerate the adoption of its planning platform.

Pigment, a 2019 startup, provides a real-time, cloud-based platform for business forecasting that manages strategy. According to the company, it offers an easy-to-use, comprehensive perspective of a business, enabling users to visualize potential future states via graphs, models, and ongoing simulations.

The platform boasts features such as breaking down silos via a unified system of record and fostering “shared understanding.” Pigment’s service guarantees data integrity and consistency across models and shared metrics. It offers the capability to replace email for conversations directly within Pigment. It emphasizes aligning employees on definitions for crucial metrics through syntax formulas and dependency diagrams akin to Microsoft Corp.’s Excel.

As Pigment enters the new funding round, it has experienced robust growth, with its annual recurring revenue tripling from an undisclosed base and its customer base doubling in the past year. Noteworthy clients now include Unilever PLC, Merck and Co. Inc., Keolis SA, Datadog Inc., KAYAK Software Corp., and 6sense Inc. Additionally, Pigment has broadened its partner network to include Deloitte Touche Tohmatsu Ltd., Slalom LLC, and BearingPoint GmbH.

Pigment claims that its emphasis on product innovations has been a major factor in its growth. The launch of a platform version driven by artificial intelligence in May 2023 was one of these innovations.

Data querying, pattern recognition, smart insights, automated reporting and analysis, and help with modeling and scenario creation are all included in Pigment AI. Users can ask questions and get answers more quickly and easily by using natural language in a chat-like interface, thanks to the AI functionality.

Series D funding was spearheaded by ICONIQ Growth LLC, joined by Sandberg Investments Inc., Bernthal Venture Partners LP, and returning investors, including Institutional Investors Partners LLC, Meritech Capital Partners LP, Felix Capital Partners LLP, and Greenoaks Capital Partners LLC.

Eléonore Crespo, Co-chief Executive Officer of Pigment, said in a statement, “Our north star has always been to combine an exceptional product and customer experience so that organizations can build the right plans and execute on them quickly. This funding puts us in an even stronger position to continue fulfilling this commitment.”

Factoring in the latest infusion of funding, Pigment’s total raised capital amounts to USD 393 million, as per Tracxn data. Earlier funding rounds comprised USD 73 million secured in November 2021, USD 65 million in September 2022 and USD 88 million in June 2023.