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French startup Pigment has raised a brand new spherical of funding lower than a 12 months after elevating a $73 million Sequence B spherical. Should you’re not conversant in Pigment, the corporate develops a enterprise planning and forecasting platform.
For small firms which might be rising up, it might change Microsoft Excel because it’s safer and extra strong typically. For greater firms that already use a enterprise planning product from Oracle or SAP, Pigment can change these legacy platforms with one thing a bit extra fashionable.
The corporate calls this new $65 million spherical a Sequence B+ as a result of it’s roughly in the identical ballpark as its Sequence B. Whereas Pigment isn’t disclosing the valuation of the startup, it’s going up following as we speak’s deal.
So why did Pigment elevate once more so rapidly? As a result of there was a possibility and since the present financial setting doesn’t look nice. IVP and Meritech Capital are main the spherical.
Pigment’s co-founder and CEO Eléonore Crespo instructed me that she doesn’t want to boost extra money to show her firm right into a long-term, secure enterprise. In fact, market situations may change and Pigment may find yourself elevating extra subsequent 12 months.
I additionally requested her if Pigment makes use of Pigment as its forecasting software. The reply is sure, clearly.
Pigment connects with the instruments that your groups already use, corresponding to Salesforce, NetSuite, Workday and Snowflake. Shoppers use the platform to import, clear and enrich knowledge from these different merchandise. As soon as the information is in, you don’t need to enter the identical quantity in a number of sheets as you may robotically replicate your metrics throughout the board. Pigment helps Excel-like formulation as nicely.
This manner, Pigment turns into the only supply of fact for all of the necessary numbers within the firm. As a software-as-a-service product, Pigment prospects also can discuss with one another on the platform instantly.
After that, prospects can create “what-if” situations from completely different knowledge units. Executives can change parameters to see the influence of a brand new product launch, a big consumer approaching board or — sadly — a spherical of layoffs.
Pigment at the moment has round 170 staff. Annual recurring income is rising properly (5x in 6 months) and the corporate now has 100 prospects, corresponding to Webhelp, PayFit, Forto, Gong, Figma, Carta and ClickUp.
Enterprise planning merchandise are fairly related proper now as firms need to plan for the worst. Having a software that allows you to precisely view all of the necessary metrics and make huge choices has develop into important. And Pigment hopes its platform will stand out from different instruments on this trade.
Picture Credit: Pigment
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