Paris-based business planning platform Pigment picks up €63.7 million to power the world’s next unicorns

The planning and forecasting platform for fast-growth companies, Pigment, has announced a €63.7 million Series B funding round led by Silicon Valley’s Greenoaks. This marks an exciting phase of their mission to become the central business planning solution, powering Finance, HR, Sales and Marketing decisions, and taking on the likes of Excel.

This funding announcement comes just one year after successful Series A funding for the company’s promise to reboot the spreadsheet. The startup was also noted as one of our Top Ten Paris startups to watch in 2021. The new funds will be used to help unicorns, and soon-to-be unicorns grow and expand Pigment’s footprint across the US and Europe

Pigment was founded in 2019 by Eléonore Crespo, a former data analyst at Google and investor at preeminent European venture capital firm Index Ventures, and Romain Niccoli, the former CTO and co-founder of Criteo. The platform’s technology offers an intuitive, visually-driven experience that is much easier to navigate than traditional planning and reporting software. It allows for continuous forecasting, enables leaders and analysts to understand all of their business data better and anticipate the impact of their decisions with greater efficiency. 

Crespo and Niccoli developed the platform having identified three key roadblocks in planning and reporting – a lack of transparency and insight into underlying data, the sheer quantity of data business leaders have to navigate, and the static way data is presented. In the age of increased remote work, it also become clear that there was a need for online collaboration capabilities that allow for whole team alignment and insight. 

Since its Series A funding in December 2020, Pigment has further developed its platform to allow any leader in an organisation to adopt a common language around the numbers that matter, and to work on them in real-time with their teams.  The platform now has native integrations with Workday, Netsuite, Salesforce and many other SaaS solutions.  

In less than a year, the fast-growing company has signed some of Europe’s newest and most exciting businesses, including ManoMano, Melio, Deliveroo, Spendesk, Blablacar, and Cheerz. Pigment is also attracting top talent from within the tech sphere – Julien Lesaicherre and Rebeca Tristan recently left Facebook – where they were in charge of Workplace’s success – to join the Pigment mission as Head of Business and Head of Customer Experience, respectively.

Looking to the next steps, the company has ambitious plans, including aims to triple the size of their business team by Q1 2022.  They see the US market as a core target area. Having just signed new flagship US clients, Melio, Algolia, and Gong, one of the fastest-growing US sales companies, Pigment plans to open US offices in New York and Silicon Valley, hiring across all sales and support functions in 2022.

Eléonore Crespo & Romain Niccoli, Co-Founders and Co-CEOs of Pigment said: “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. We want to help fast-growing companies see, understand, and imagine the full spectrum of their business by creating a common language around the numbers that matter.  And the proof we’re succeeding in that goal can be seen in our client’s recent successes!”.