French enterprise software startup Pigment has raised $250m at a $2.3bn valuation, it said today, in a funding round led by the EU's new €5bn ($5.6bn) investment fund aimed at scaling up future European tech giants.
Paris-based Pigment offers enterprises a business planning platform, helping businesses plan finances, operations and forecasting. It competes against the likes of Microsoft Excel, SAP, IBM and Anaplan.
Pigment’s Series E round was led by the Scaleup Europe Fund, managed by EQT, with participation from World Innovation Labs, a Palo Alto and Tokyo-headquartered VC fund. Existing investors, including Greenoaks, Iconiq, IVP, and Meritech also participated, along with investment from Nvidia, which has previously been announced. It follows Pigment’s Series D $145m funding round in 2024, led by Iconiq.
Pigment's customers include big businesses like Siemens and Unilever as well as newer tech companies such as Anthropic and ElevenLabs. Pigment, which leverages AI in its offering, says it will use the funding injection to speed up its R&D efforts, and expand its engineering team.
Pigment co-founders Eléonore Crespo and Romain Niccoli said, "Enterprise planning will change more in the next few years than it has in the last thirty. Legacy tools are being left behind, and the world's most advanced AI companies now run their planning on Pigment. With the backing of our investors, we are moving fast to make autonomous planning a reality for every enterprise. With AI agents running planning workflows end to end and turning decisions into action, companies can respond to change as fast as it happens."
The Scaleup Europe Fund is designed to boost investment in Europe’s tech sector as it struggles to compete with the US and China in the race for technological domination. Its other investments inlude Mistral and Iceye.