Business planning platform startup Pigment SAS said over the weekend that it had raised $ 73 million in new funding to expand its presence in the U.S. and European markets.
Greenoaks Capital led the Series A round. FirstMark Capital and Blossom Capital also participated in the round. Including the new funding, Pigment has raised $ 98.9 million to date, according to data from Crunchbase.
Pigment was founded in 2019 by Eléonore Crespo, former data analyst at Google LLC, and Romain Niccoli, former CTO and co-founder of advertising technology company Criteo SA. The company offers a cloud-based business forecasting platform that manages business strategy in real time.
Presenting its product as a redesign of the “painful experience” of using error-prone spreadsheets and rigid software to predict the future of businesses, Pigment says its platform empowers users to take control of their business data.
The platform provides an intuitive and comprehensive view of a business that allows users to play with multiple future scenarios in real time through graphics, simulations, and continuous modeling. This modeling includes the ability to animate future scenarios and bring them to life to aid in strategic decision making.
Other benefits of the platform include the ability to break down silos through a single registration system and the provision of “shared understanding”. The service ensures data integrity and consistency across models and shared metrics, the ability to leave emails and run conversations directly on Pigment, and a focus on aligning everyone with definitions of key metrics with syntax formulas and Excel-like dependency diagrams.
Over the past year, Pigment said, it has seen rapid adoption. Notable clients include ManoMano, Melio Payments Inc., Deliveroo PLC, Spendesk, Blablacar and Cheerz.
“Across all categories, from sales to marketing, innovation has happened – but the most strategic decisions still rest with analysts spending long, arduous hours in Excel,” Crespo and Niccoli said in a statement. “We want to help fast-growing companies see, understand and imagine the full spectrum of their business by creating a common language around the numbers that matter. “