Pigment, a business planning platform, announced a $145 million Series D funding round led by ICONIQ Growth. Sandberg Bernthal Venture Partners and several other existing investors, including IVP, Meritech, Greenoaks, and Felix Capital, also participated in the round.
This funding round follows a successful year for Pigment as the company tripled its annual recurring revenue and doubled its customer base globally. And the number of enterprise customers using Pigment also tripled. Over 90% of Pigment customers use the platform across multiple departments, including finance, sales, HR, and supply chain.
And Pigment will use the funding to continue driving innovation to fuel the adoption of its planning platform and accelerate its investments in generative AI to support decision-making and agility further.
Global brands such as Unilever, Merck, Keolis, Datadog, KAYAK, and 6sense have all picked Pigment for its unique combination of usability and scalability needed to make accurate yet timely decisions. Pigment has expanded its partner network, collaborating with leading consulting firms such as Deloitte, Slalom and BearingPoint.
Over the past year, Pigment enhanced its North American presence (the company’s largest market) by opening offices in New York and Toronto and making several strategic hires. Jay Peir joined as Global Head of Strategy from Tableau, where he was EVP of Corporate Development and Strategy, and Sean Brophy as Global Head of Sales from Alteryx, where he led US Enterprise Sales. In France, Edouard Beaucourt is also joining from Snowflake as Pigment’s Head of EMEA.
KEY QUOTES:
“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. We’re incredibly proud of the trust and confidence our investors place in the entire Pigment team, and we look forward to working alongside them as we enter the next phase of our journey.”
– Eléonore Crespo, co-CEO, Pigment
“Everything we do from a product perspective is designed to simplify decision making and increase agility at scale. This spans all elements of product development, from an AI-powered user experience, to innovating on Pigment’s core infrastructure, to deliver the scalable and reliable solutions that enterprises expect.”
“So far our generative AI investments have focussed on helping users get insights faster and build reports more efficiently. Over time, our vision is that we will go from gradual improvements in efficiency to AI acting as a true co-pilot in the decision-making process.”
– Romain Niccoli, co-CEO, Pigment
“Since leading Pigment’s Series C less than a year ago, the company has successfully expanded into the enterprise market and across multiple functions and use cases much faster than we expected. This is testament to the extraordinary team and product Eléonore and Romain are building.”
– Seth Pierrepont, General Partner, ICONIQ Growth
“We are exceptionally confident that Pigment is successfully addressing a clear and very large need in the market. This confidence in the market, product and team drove our enthusiasm to continue to support the company’s continued success.”
– Matt Jacobson, General Partner, ICONIQ Growth
