French startup Pigment has lifted a new spherical of funding considerably less than a calendar year after raising a $73 million Sequence B spherical. If you are not common with Pigment, the company develops a business enterprise scheduling and forecasting system.
For smaller corporations that are growing, it can swap Microsoft Excel, as it’s a lot more safe and much more sound in standard. For bigger organizations that previously use a enterprise arranging solution from Oracle or SAP, Pigment can swap these legacy platforms with some thing a little bit much more fashionable.
The business phone calls this new $65 million spherical a Collection B+ simply because it is much more or significantly less in the exact ballpark as its Series B. When Pigment is not disclosing the valuation of the startup, it is likely up pursuing today’s deal.
So why did Pigment increase all over again so speedily? For the reason that there was an opportunity and mainly because the present economic setting doesn’t glimpse excellent. IVP and Meritech Money are primary the spherical.
Pigment’s co-founder and CEO Eléonore Crespo told me that she doesn’t have to have to raise more funds to switch her enterprise into a long-time period, steady company. Of training course, sector situations could improve and Pigment could stop up boosting much more upcoming calendar year.
I also asked her if Pigment employs Pigment as its forecasting tool. The answer is of course, obviously.
Pigment connects with the tools that your groups now use, this sort of as Salesforce, NetSuite, Workday and Snowflake. Consumers use the system to import, clean up and enrich data from those other products and solutions. As soon as the info is in, you never have to enter the identical range in several sheets as you can instantly reflect your metrics throughout the board. Pigment supports Excel-like formulas as properly.
This way, Pigment turns into the one resource of truth for all the essential numbers in the business. As a software-as-a-assistance product or service, Pigment clients can also speak with every other on the platform instantly.
After that, prospects can produce “what-if” situations from distinct datasets. Executives can change parameters to see the impact of a new solution start, a massive client coming on board or — regrettably — a spherical of layoffs.
Pigment at this time has about 170 workers. Annual recurring revenue is developing properly (5x in 6 months) and the organization now has 100 buyers, these types of as Webhelp, PayFit, Forto, Gong, Figma, Carta and ClickUp.
Organization scheduling products are really relevant correct now as firms have to approach for the worst. Owning a tool that allows you precisely look at all the significant metrics and make massive choices has become critical. And Pigment hopes its system will stand out from other tools in this field.