Quarter Billion Funding for French Data Firm Pigment

Paris-based AI business planning and performance management platform Pigment has announced a $250 million Series E funding round at a $2.3 billion valuation. The money will be used to accelerate R&D, to recruit faster for its engineering team, and for expansion in new regions.

Pigment is an AI business planning and performance management platform, designed for complex multinational enterprises with a combination of dynamic modelling, real-time analytics and autonomous AI agents. Users can model, analyze, and act on massive amounts of global enterprise data. The platform is used by teams across finance, sales, supply chain and other business functions in the likes of L'Oreal, Unilever, Siemens, Snowflake and Anthropic.

The firm operates a proprietary, patent-pending compute engine called Graphite, home to a number of AI agents and capable of handling thousands of users and agents at once. Assisted by the new funds, Pigment says it will advance Graphite to handle even larger and more complex workloads, while extending its agents from building models and analyzing data to running planning workflows end to end.

The round was led by Scaleup Europe Fund, managed by EQT, with participation from WIL (World Innovation Lab), existing investors including Greenoaks, ICONIQ, IVP, and Meritech, and a planned investment from NVIDIA.

According to Pigment co-founders Eléonore Crespo and Romain Niccoli, 'Enterprise planning will change more in the next few years than it has in the last thirty. Legacy tools are being left behind, and the world's most advanced AI companies now run their planning on Pigment. With the backing of our investors, we are moving fast to make autonomous planning a reality for every enterprise. With AI agents running planning workflows end to end and turning decisions into action, companies can respond to change as fast as it happens.'

The firm is online at www.pigment.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.