You have a product that is truly mission critical for any company,’” Crespo told me. Several American funds told me ‘we’d like to invest now and offer you great terms. Here’s how I work: I try to have investor catch-ups once a year with potential investors for the next round.
#530M ICONIQ GROWTHHEARTECHCRUNCH SERIES#
I talked to her once again and asked her why she raised a Series C so quickly after the previous funding round. Of course, market conditions could change and Pigment could end up raising more next year. Pigment’s co-founder and co-CEO Eléonore Crespo told me that she doesn’t need to raise more money to turn her company into a long-term, stable business. Here’s what I wrote when I covered Pigment’s previous $65 million round: Users can then create “what-if” scenarios and estimate how some changes would affect the business without messing with the main dashboards. For instance, the finance team can ask questions to the HR team to understand why a particular budget is so high. The difference is that data will be regularly synchronized and updated across all views.Īs a modern software-as-a-service product, Pigment is also collaborative. Once the data is imported, teams can build their own views, create dashboards and generate reports just like they would do in Excel. Pigment also integrates with Salesforce, and more connectors are on the way.
#530M ICONIQ GROWTHHEARTECHCRUNCH SOFTWARE#
Pigment has built connectors with dozens of enterprise software products, including ERPs (NetSuite, SAP, Sage Intacct, Xero), HR information system (Workday, BambooHR, etc.) and data lakes (Snowflake, AWS Redshift, Google BigQuery). Pigment also recently added a new spreadsheet view so that Excel users feel right at home when they are typing formulas.īut what makes Pigment different from Microsoft Excel is that it’s a live product. If you want to use it for carbon accounting and track your total emissions, you can start importing data and create a dashboard for that use case. Just like Microsoft Excel, Pigment wants to be a generic tool. HR teams can see how they should scale the workforce up and down based on strategic changes and financial objectives. Sales team leaders can use it to track quotas and see how everyone is performing against quarterly quotas. Chief financial officers - and finance teams in general - use it to gather all business data to create reports and plan for the future. It’s a flexible product that can be used by multiple teams in big companies. The best way to describe Pigment is by describing what it can do.
Julien Codorniou, who is an angel investor in Pigment, is now also investing in the startup through his VC firm Felix Capital. In addition to Iconiq Growth (which previously invested in companies like Adyen, Datadog, GitLab, Miro and Snowflake), existing investors Meritech, IVP and FirstMark are investing in Pigment once again. It’s a new take on a critical product for large companies that need to forecast, budget and build comprehensive reports. Pigment wants to take on Microsoft Excel and offer a business planning platform that works better than products from enterprise software behemoths, such as Oracle or SAP. Paris-based startup Pigment has raised a Series C round of $88 million - the investment was led by Iconiq Growth.
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