SUMMARY
- Led by ICONIQ, Pigment's recent funding round secures a hefty $88M, aiming to expand its U.S. presence and delve into AI.
- The firm witnessed an impressive 600% revenue growth in 2022, and a tenfold increase in its user base, posing strong competition to tech giants like Microsoft, Google, SAP, and Oracle.
- Pigment's future roadmap includes sustainable growth and the development of AI-driven products like the recently introduced Pigment AI.
In a landmark fundraising venture, Pigment, the French enterprise known for its innovative business planning software, recently amassed $88 million. This investment round was steered by ICONIQ, the famed private equity fund that oversees the wealth of illustrious technology magnates like Mark Zuckerberg and Jack Dorsey.
Renowned for its exceptional business planning and forecasting platform, Pigment offers a solution that rivals even the usability of Microsoft's Excel. The firm's dynamic leadership under co-CEOs Eleonore Crespo and Romain Niccoli informs plans to utilize this fresh injection of funds to broaden their footprint in the U.S. market and make strategic forays into artificial intelligence.
The fundraising round also saw the participation of well-known venture capital entities, including Felix Capital, Meritech, IVP, and FirstMark. Pigment's distinguished clientele encompasses well-known brands such as Klarna, Miro, and Tommy Hilfiger owner PVH.
The digital tools devised by Pigment are a staple resource for finance teams around the world, used extensively in decision-making processes and financial planning. Despite their robust competition from software giants like Microsoft, Google, SAP, and Oracle, the firm remains undeterred. In 2022, Pigment celebrated an impressive 600% growth in revenue, coupled with a tenfold increase in its user base, thereby standing in a strong position to rival industry titans.
Lastly, Pigment's plans for the future are intriguing. With the recent launch of Pigment AI, it has set sights on the bustling AI marketplace. This service enables clients to query data, identify patterns, and automate reporting—a clear reflection of the growing influence of AI. Pigment's growth strategy remains focused on sustainable expansion, given investors' expectations for profitability over rampant growth.
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