Pigment announced a $250 million Series E funding round on Wednesday that values the Paris-based AI business planning company at $2.3 billion.
The Scaleup Europe Fund, managed by EQT, led the round, the company said. WIL (World Innovation Lab) and existing investors Greenoaks, Iconiq, IVP and Meritech participated, along with a planned investment from Nvidia $NVDA. Nvidia CEO Jensen Huang revealed the chipmaker’s backing last week while he was in France, according to Bloomberg.
Pigment said the money will go toward research and development and a larger engineering team focused on Graphite, its proprietary compute engine, and the AI agents that run on it. The company also plans to expand in new regions. Eléonore Crespo, Pigment's co-founder and chief executive, said a handful of Asian investors are expected to join the round, helping the company expand into the region, according to Bloomberg.
Pigment said its yearly recurring revenue climbed past the $100 million mark earlier this year, twice the level it had reached 12 months before. It said 85% of new metrics on its platform are now created by an AI agent. Pigment expects to repeat that doubling next year.
Pigment's customers include Danone, DirecTV, Siemens, Snowflake $SNOW, ServiceNow $NOW and Unilever, the company said. Anthropic, ElevenLabs and Uber $UBER also use the platform. L'Oréal is replacing its salary planning tool with Pigment for its 95,000-plus employees.
Pigment is seeking customers that use software from Microsoft $MSFT, SAP, Oracle $ORCL, IBM $IBM and Anaplan, according to Bloomberg.
"Enterprise planning will change more in the next few years than it has in the last thirty," Crespo and co-founder Romain Niccoli said in a statement. "With AI agents running planning workflows end to end and turning decisions into action, companies can respond to change as fast as it happens."
Shannee Braun, a managing director at EQT and the Scaleup Europe Fund, said large enterprises often handle planning in disconnected places. "A lot of large enterprises are still doing this in Excel, in sort of disparate and disconnected places," Braun told Bloomberg.
Pigment's previous round was a $145 million Series D in 2024, led by Iconiq, according to Tech.eu.
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