French platform Pigment rakes in $65 million to tackle complex work of business planning

With so much economic uncertainty, it’s more important than ever for companies to be confident about their decision-making. Shifting market conditions makes it vital to have the best possible planning and forecasting capabilities for companies.

Supporting companies to make smarter, more informed decisions, France-based business planning platform Pigment has brought in $65 million in funding. The new funding comes on the heels of its Series A and Series B rounds that totalled more than $100 million. The Series B+ round was led by IVP and Meritech Capital.

Going forward, the funding will be utilised to drive the company’s expansion in Europe. Pigment will also spread its tentacles in the U.S to attract more large enterprises.

Founded by Eléonore Crespo and Romain Niccoli, the startup is designed to take on the likes of spreadsheets and legacy Enterprise Performance Management (EPM) systems. Pigment’s technology offers an intuitive and visually-driven experience, provides a 360° view of the business, updates financial models in real-time, and allows to run what-if scenarios at the click of a button. With Pigment, finance, HR and revenue teams can improve cross-functional collaboration, increase internal efficiency, and align financial and operational plans, all while scaling reporting and data management.

Talking about expanding in the U.S., Eléonore Crespo, co-founder and co-CEO of Pigment said: “In the past year, we have grown from 0 to 33 people supporting our North American operations and we expect this to double in the next year.” The company has opened offices in New York and will soon set up in Boston.

Rob Ward, co-founder and general partner of Meritech Capital added: “Businesses of all sizes must equip themselves with the information they need to make the most important decisions. Pigment's suite allows business leaders to do just that.”