Pigment, a startup company that develops a planning and forecasting platform for fast-growth companies, has raised $73 million in a Series B funding round led by Greenoaks. Returning investors FirstMark Capital and Blossom Capital also took part in the business funding round.
Assisting Leaders in the Decision-Making Process
The raised business capital comes just a year after Pigment raised funding in a Series A round. The startup company will use the fresh funding to make new hires and increase resources to satisfy the rapidly-growing demand from customers. The company also plans to enter new markets in the US and Europe.
Founded in 2019, the startup company aims to become the leading provider of business planning solutions used to make key finance, HR, sales, and marketing decisions. Pigment has developed a unique platform that is very simple to use, allowing executives and analysts to gain a full understanding of their business and better evaluate the impact of their decisions.
Pigment believes it is addressing a unique market opportunity as the majority of finance and business teams at companies still rely on outdated and error-prone solutions to understand their business. In the post-pandemic world, where there is a massive need for online collaboration, Pigment has registered massive growth.
"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,” said Eléonore Crespo and Romain Niccoli, co-founders and co-CEOs of Pigment.
“We want to help fast growth 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!"
Since securing business funding in its Series A round, Pigment has made significant improvements on the platform, which helps business leaders better understand financials and work together with their teams in real-time. Today, Pigment’s platform has native integrations with Workday, Netsuite, and Salesforce, among others.
In less than a year, the startup company has struck business partnerships with multiple fast-growing business organizations like ManoMano, Melio, Deliveroo, Spendesk, Blablacar, and Cheerz. These companies regularly use Pigment’s platform to help them make key business decisions.
Such decisions could include validating and tracking hiring plans, expanding into new markets, establishing new customer segmentation, completing initial public offers (IPOs), and more.
The startup company has recently appointed some of the most talented tech experts in the industry, such as Julien Lesaicherre and Rebeca Tristan. Lesaicherre recently left Facebook to take on new roles at Pigment as Head of Business, while Tristan is the new Head of Customer Experience.
Pigment expects to expand its business team by three times until March of next year. The startup company also plans to open new offices in New York and Silicon Valley after onboarding several major US-based clients such as Melio, Algolia, and Gong.
Business planning startup Pigment announced it has raised $73 million in a Series B funding round from Greenoaks, joined by returning investors FirstMark Capital and Blossom Capital. The startup company intends to deploy new funding to hire more employees, increase resources, and enter new markets in the US and Europe.