Pigment, the French business planning and forecasting platform, has reportedly bagged another $65 million, a year after securing $73 million in a Series B round. According to sources, IVP and Meritech Capital led the funding round.

Pigment can be used in place of Microsoft Excel for building small businesses since it is more reliable and altogether safer. Pigment can replace old platforms used by larger firms that currently utilize business planning software from SAP or Oracle with updated solutions.  

Eléonore Crespo, the co-founder and CEO of Pigment claimed that she did not require additional funds to build a long-lasting, reliable business, but market circumstances can alter, and Pigment may raise additional funds in the future.

Pigment integrates with tools used by teams, including Workday, Salesforce, NetSuite, and Snowflake. Data from these additional products are imported, cleaned, and enhanced by clients using the platform.

Users do not need to enter the same number in different sheets after the data is in because metrics are automatically reflected across all sheets. Additionally, Pigment enables formulas that are similar to the ones used in Excel.

As a result, Pigment has become the sole source of accuracy for all crucial numbers within the company. Pigment customers can also communicate with one another on the platform as it is a software-as-a-service solution.

Users can then utilize various data sets to build 'what-if' scenarios. Executives can adjust the parameters to examine the effects of a new product introduction, a significant client joining, or, perhaps, a wave of layoffs.

Currently, pigment employs about 170 people. The company now has 100 clients, including PayFit, Webhelp, Gong, Forto, Figma, ClickUp, and Carta, and its annual revenue has increased five times in the past six months.

Solutions for business planning are currently very significant since businesses must be prepared for the worst. So, it is vital to own a tool to accurately view all the indicators and make crucial decisions. Pigment also anticipates that its platform will be different from competing technologies in this sector.

Source credit: https://techcrunch.com/2022/09/28/pigment-raises-another-65m-to-build-the-modern-business-planning-platform/