Pigment, a Paris-based AI software maker for business planning, announced on Wednesday that it raised $250M in a Series E round, valuing the company at $2.3B. Nvidia also plans to invest, adding to its recent European bets.
The Scaleup Europe Fund, managed by Swedish investment firm EQT, led the round. The Scaleup Europe Fund is backed by the European Commission alongside private investors such as Allianz and Novo Holdings. It aims to raise €5B and started investing this year, with the goal of keeping fast-growing European tech companies from raising money abroad.
World Innovation Lab also joined the round, together with existing investors Greenoaks, ICONIQ, IVP and Meritech. Pigment last raised money in April 2024, when it closed a $145M Series D led by ICONIQ Growth.
Companies use Pigment to plan budgets, sales targets and hiring in one shared model. AI agents now build much of that work: Pigment says 85% of new metrics on its platform are created by an agent rather than a person.
The company said its annual recurring revenue passed $100M earlier this year, after doubling again. Its customers include Danone, DirecTV, Siemens, Snowflake and Unilever, as well as AI companies such as Anthropic and ElevenLabs. L’Oréal is also moving salary planning for more than 95,000 staff onto the software.
Most of the new money will go into research and hiring engineers. They will work on Graphite, the computing engine underneath the product, and on agents that can run whole planning tasks from start to finish.
“Enterprise planning will change more in the next few years than it has in the last thirty,” said co-founders Eléonore Crespo and Romain Niccoli.
“Eléonore and Romain have built a global category leader from Paris,” said Shannee Braun, a managing director at EQT who works on the fund.
Nvidia’s stake has not yet been finalised, and the company did not say how much it will invest. The chipmaker has backed several European startups this year as part of a wider push into Europe.
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