French startup Pigment has raised a brand new spherical of funding lower than a yr after elevating a $73 million Series B round. When you’re not acquainted with Pigment, the corporate develops a enterprise planning and forecasting platform.
For small firms which can be rising, it might substitute Microsoft Excel, because it’s safer and extra strong typically. For larger firms that already use a enterprise planning product from Oracle or SAP, Pigment can substitute these legacy platforms with one thing a bit extra trendy.
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 at present’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 lift extra money to show her firm right into a long-term, steady enterprise. After all, market situations might change and Pigment might find yourself elevating extra subsequent yr.
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, resembling Salesforce, NetSuite, Workday and Snowflake. Shoppers use the platform to import, clear and enrich information from these different merchandise. As soon as the info is in, you don’t should enter the identical quantity in a number of sheets as you may mechanically mirror your metrics throughout the board. Pigment helps Excel-like formulation as effectively.
This manner, Pigment turns into the only supply of fact for all of the vital numbers within the firm. As a software-as-a-service product, Pigment prospects may also speak with one another on the platform straight.
After that, prospects can create “what-if” eventualities from totally different datasets. 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 present has round 170 staff. Annual recurring income is rising properly (5x in six months) and the corporate now has 100 prospects, resembling Webhelp, PayFit, Forto, Gong, Figma, Carta and ClickUp.
Enterprise planning merchandise are fairly related proper now as firms should plan for the worst. Having a software that permits you to precisely view all of the vital metrics and make huge selections has turn out to be important. And Pigment hopes its platform will stand out from different instruments on this business.
Picture Credit: Pigment
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