Pigment, the financial planning platform that helps companies make informed and relevant decisions, announces that it has raised 65 million euros during an extension of its Series B fundraising. This time, it is IVP and Meritech Capital in addition to series A and B contributors, bringing the total raised to €165 million. Between these two substantial fundraisers, the tricolor startup recorded record figures, with a five-fold increase in its income in six months and a ten-fold increase in the number of new customers in just one year, not to mention the release of several new product features.
Since its last funding round, Pigment has expanded globally and solidified its position among unicorns and big corporations. The company now serves more than 100 companies, including the large Paris-based Webhelp, a multinational customer experience outsourcing company that employs more than 100,000 people and generates a turnover of 2.5 billions of dollars. Pigment also works with leading companies such as Figma, Deliveroo, IDKIDS and ManoMano. Pigment has also announced partnerships with planning consulting companies, such as Keyrus and MeltOne, in order to develop its activity and support even more large companies in the adoption of its platform.
“Today, with 110,000 employees and serving more than 1,400 customers in 55 countries, and revenues of more than 2.5 billion, it is vital that our financial plans are solid and precise to support our double-digit growth. After a two-week hackathon with the best market planning tools, we selected Pigment for our financial reporting” said Bruno Vaffier, CFO of Webhelp. “The platform’s functionalities, its flexibility and its scalability will allow us to unify and transform our financial operations in all our countries, in order to offer the best service to our customers.”
The new funding will be used for the development of its platform to meet the needs of large companies seeking agility in an uncertain economic environment. Pigment will also continue its expansion in the United States, where it has already established itself very quickly.
“Pigment’s excellent solution couldn’t be more timely,” says Rob Ward, co-founder and General Partner of Meritech Capital. “Businesses of all sizes need the information they need to make the most important decisions. That’s exactly what business leaders can do with the Pigment software suite. »
From high-growth startups to large corporations looking to better understand the numbers that impact their business, Pigment is trumping Excel spreadsheets and other aging planning, budgeting and performance management systems. Pigment reduces the time spent on calculations and data manipulation so teams can collaborate in real time and focus on analyzing that data.
“As a former CFO of Dropbox, I know that CFOs and executives at companies of all sizes need to quickly retrieve actionable insights, especially during periods of market volatility,” said Ajay Vashee, General Partner at IVP. “Pigment provides an unrivaled performance financial planning platform widely adopted by finance leaders and executive teams to accelerate revenue growth and refine resource allocation. Led by the company’s visionary founders, we believe that Pigment embodies the future of the EPM (Enterprise Performance Management) and financial planning market. »
Pigment’s innovative technology, which aims to achieve “better results through better planning”, has several new features designed to reduce the complexity inherent in financial planning.
• Advanced modeling and simulation capabilities provide full visibility into complex scenarios, which can be enriched and updated in real time, thereby turning data into results to help businesses stay on track. ahead. Absolutely unique on the market, the ‘Scenarios’ feature allows you to trigger a “what if” type analysis at any time, giving companies an undeniable competitive advantage. Just two weeks after launch, 80% of customers were already using it. Two months later, customers continue to create more scenarios and consult the precedents.
• Thanks to scheduled and automated imports, business users are freed from IT dependency and can synchronize all their data in real time thanks to dozens of integrations available with CRMs (Salesforce), ERPs (NetSuite) and other systems such as Workday and Snowflake.
• Two-way data connector for Google Sheets enables one-click creation of board-friendly presentations free of human error. With users being 80% business-oriented, Pigment makes it easy to collect data and report results to management or the business at large.
Through their collaboration, Pigment co-founders Eléonore Crespo and Romain Niccoli execute the company’s mission and vision to bring certainty out of the unknown.
“In this context of economic ambiguity, it is more important than ever for companies to be able to make decisions with confidence,” said Eléonore Crespo, co-founder and co-director of Pigment. “The evolution of the market requires equipping ourselves with the best planning and forecasting capabilities. Thanks to Pigment, companies are no longer afraid of change: they accept it with the assurance of being able to make informed decisions and implement them. Our latest fundraising strengthens our ability to challenge traditional EPM in favor of cutting-edge business strategy. »
We are extremely proud to count among our customers companies such as Figma, Webhelp, IDKIDS, Contentsquare, ManoMano or PayFit, all of which have chosen Pigment in the last six months. The growth of Pigment, as well as the support of our investors, confirms our choice to move the lines in terms of planning. We are witnessing tremendous momentum which gives us a glimpse of our future position as leader in this category,” says Eléonore Crespo.
Pigment is a financial planning platform founded in 2019 with the goal of breaking down three major barriers to corporate planning and reporting: first, the lack of transparency and data analytics; then, the phenomenal amount of data available to companies and which they must exploit; finally their often static representation which complicates their modification and manipulation. As a result, traditional planning and reporting means wasted time and money, as well as the inevitable errors that hamper most organizations’ operations.
Conversely, Pigment’s technology favors an intuitive and visual experience, with a 360° view of the business, real-time updates to financial models and the ability to test “what if” scenarios in one go. click. With Pigment, Finance, HR, Sales and Marketing teams improve their cross-communication, internal efficiency and synergy of their financial and operational plans, while implementing scalable reporting and data management systems.
IVP transforms companies into market leaders in the long term. With 40 years of experience in generating growth, the firm has invested in more than 400 companies to date, of which more than 130 have gone public. Amplitude, Brex, Coinbase, Crowdstrike, Datadog, Discord, Klarna, Slack, Snap and Twitter are among its partners. IVP wants to be the infallible collaborator of the founders and CEOs to help them meet the challenge of rapid growth at the head of their company. Our proven system supports critical and sometimes overlooked functions, and our partners are trusted by businesses looking to reach their full potential.
About Meritech Capital Partners
Meritech Capital Partners is a late-stage venture capital firm focused on large technology companies. It has been recognized as one of the most successful companies in the world for the past two decades. Founded in 1999, the firm has combined management of more than $5 billion in total capital. Meritech has invested and continues to invest in companies like Alteryx, Anaplan, Auth0, Braze, Box, Coupa, Datadog, Duo Security, Facebook, Looker, MuleSoft, NetSuite, Proofpoint, Roblox, Salesforce, Segment, Snowflake, Tableau and UiPath . Its offices are in Palo Alto and San Francisco, California, as well as New York.