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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 Collection B spherical. When you’re not conversant in Pigment, the corporate develops a enterprise planning and forecasting platform.
For small corporations which can be rising up, it could actually exchange Microsoft Excel because it’s safer and extra strong on the whole. For greater corporations that already use a enterprise planning product from Oracle or SAP, Pigment can exchange these legacy platforms with one thing a bit extra fashionable.
The corporate calls this new $65 million spherical a Collection B+ as a result of it’s kind of in the identical ballpark as its Collection B. Whereas Pigment isn’t disclosing the valuation of the startup, it’s going up following immediately’s deal.
So why did Pigment increase once more so rapidly? As a result of there was a chance 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 lift extra money to show her firm right into a long-term, steady enterprise. After all, 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. Purchasers use the platform to import, clear and enrich knowledge from these different merchandise. As soon as the information is in, you don’t should enter the identical quantity in a number of sheets as you possibly can robotically replicate your metrics throughout the board. Pigment helps Excel-like formulation as nicely.
This fashion, Pigment turns into the one supply of fact for all of the necessary numbers within the firm. As a software-as-a-service product, Pigment clients can even discuss with one another on the platform instantly.
After that, clients can create “what-if” eventualities from completely different knowledge units. Executives can change parameters to see the impression 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 clients, corresponding to Webhelp, PayFit, Forto, Gong, Figma, Carta and ClickUp.
Enterprise planning merchandise are fairly related proper now as corporations should plan for the worst. Having a software that permits you to precisely view all of the necessary metrics and make huge selections has turn out to be important. And Pigment hopes its platform will stand out from different instruments on this trade.
Picture Credit: Pigment
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