Pigment, a Paris company that makes business planning software, has raised $250m in a Series E round at a post-money valuation of $2.3bn. It announced the round on 21 October 2026; Dealroom reported it the evening before.
The Scaleup Europe Fund, managed by EQT, led the round. World Innovation Lab joined as a new investor, and existing backers Greenoaks, ICONIQ, IVP and Meritech also invested. Pigment said NVIDIA plans to invest as well.
The new valuation is more than double the $1bn at which Pigment raised a $145m Series D in April 2024, according to Dealroom.
“Enterprise planning will change more in the next few years than it has in the last thirty.”Eléonore Crespo and Romain Niccoli, Co-founders, Pigment
What Pigment does
Pigment sells software that finance, sales and HR teams use to build budgets, forecasts and headcount plans. It competes with planning tools from large vendors; Dealroom framed the round as Pigment taking on Microsoft and SAP. Dealroom, which said Pigment was founded in 2019, also listed Oracle, IBM and Anaplan among the planning vendors it is up against, alongside Microsoft's Excel and PowerPoint.
The company said its annual recurring revenue passed $100m earlier in 2026 and has roughly doubled year on year. It also said AI agents now create 85% of new metrics in its software. Dealroom put the figure at nearly $100m.
Customers named in the announcement include Danone, DirecTV, Siemens, Snowflake, ServiceNow, Unilever, Anthropic, ElevenLabs and Uber. Pigment said L'Oréal recently replaced its salary-planning tool with Pigment for more than 95,000 employees. Dealroom also named Merck and Klarna as customers. Pigment says companies use its software in finance, sales, supply chain and other functions.
Who invested
Shannee Braun, a managing director at EQT who works on the fund, said co-founders Eléonore Crespo and Romain Niccoli had built a global category leader from Paris. Braun also said that in most companies the fullest picture of how the business really works is found in its plans.
World Innovation Lab, also known as WIL, is the only new investor named besides the lead. Dealroom reported that Pigment plans to bring in more Asian investors and expand in Asia.
Dealroom put Pigment's total funding at $647m. The company did not confirm a total, so that figure is not used in the round data here.
What the money is for
Pigment said it will spend the money on research and engineering hiring, on Graphite, its in-house compute engine, and on AI agents that can run planning work from start to finish.
Pigment describes Graphite as a patent-pending engine that allows thousands of AI agents and people to work on one governed model at the same time, across hundreds of billions of data points. The company says its results are deterministic and can be fully traced.
Its agents currently build models and analyse data. Pigment wants them to take on whole planning workflows and turn decisions into action. The company also said the funding would help it expand into new regions, which it did not name. Dealroom reported that Pigment plans AI agents that work with the enterprise systems companies already run, and cautioned that the funding alone does not show customers are ready to give up familiar tools or replace legacy systems.
"Enterprise planning will change more in the next few years than it has in the last thirty," Crespo and Niccoli said in the announcement.
Pigment has not disclosed its headcount. With NVIDIA's planned investment and a lead from a European fund, the round gives the company both US and European backing as it pushes planning work towards AI agents.
Company website: pigment.com