Promising to give the spreadsheet the reboot, Paris-based business planning and forecasting platform Pigment has raised $73 million in a Series B funding round. The new capital will be used to increase the headcount to meet client demand, as well as expand the company’s presence in both the European and US markets. To date, Pigment has raised just shy of $100 million.
With power and simplicity being the goal, Pigment aims to offer clients an intuitive, data-rich interface that any business leader can understand within minutes. The service pulls data from any number of sources in real-time, and can generate constantly evolving models in a matter of hours. Ultimately, the service not only pools and presents a single source of what’s going on, but can be used to predict what will be going on.
Driven in part by a remote-first working environment, finance and business teams no longer have the option of working in a siloed environment, with a bevy of tools available that make team alignment all the more possible. Not missing a beat, Pigment has integrations with Workday, Netsuite, Salesforce, and a number of other SaaS solutions. The platform then offers managers insights into key business decisions such as validating and tracking hiring plans across fast-growing teams, expanding - or deciding not to - in new markets, defining new customer segmentation, raising a new round, or planning an IPO.
"In every category from sales to marketing, innovation has happened - but the most strategic decisions still rely on analysts spending long, painful hours on Excel,” commented CEOs Eléonore Crespo and Romain Niccoli. “We want to help fast-growth companies see, understand, and imagine the full spectrum of their business by creating a common language around the numbers that matter.”
In the last year alone, Pigment has onboarded a number of impressive clients including Algolia, ManoMano, Melio, Deliveroo, Spendesk, Blablacar, and Cheerz, and has attracted former Facebook talents Julien Lesaicherre and Rebeca Tristan.
Pigment’s Series B round was led by Greenoaks with all Series A investors including FirstMark Capital and Blossom Capital following on.
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