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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. For those who’re not conversant in Pigment, the corporate develops a enterprise planning and forecasting platform.
For small firms which might be rising up, it may well exchange Microsoft Excel because it’s safer and extra stable normally. For larger firms that already use a enterprise planning product from Oracle or SAP, Pigment can exchange 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 as we speak’s deal.
So why did Pigment increase 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 advised me that she doesn’t want to boost extra money to show her firm right into a long-term, steady enterprise. In fact, market circumstances 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 instrument. The reply is sure, clearly.
Pigment connects with the instruments that your groups already use, akin 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 possibly can routinely replicate your metrics throughout the board. Pigment helps Excel-like formulation as effectively.
This manner, Pigment turns into the one supply of fact for all of the essential 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” eventualities from completely different knowledge units. Executives can change parameters to see the affect of a brand new product launch, a big shopper approaching board or — sadly — a spherical of layoffs.
Pigment presently has round 170 staff. Annual recurring income is rising properly (5x in 6 months) and the corporate now has 100 prospects, akin 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 instrument that permits you to precisely view all of the essential metrics and make large 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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