Paris-founded enterprise software company Pigment has raised $250 million in Series E financing at a $2.3 billion valuation, following rapid growth in its AI-powered business planning platform.
The round was led by the Scaleup Europe Fund, managed by EQT, with participation from World Innovation Lab, Greenoaks, ICONIQ, IVP and Meritech. Nvidia also plans to participate in the financing, according to Pigment's announcement.
Founded in 2019 by Eléonore Crespo and Romain Niccoli, who serve as co-CEOs, Pigment initially set out to modernize enterprise financial planning, a category long dominated by spreadsheets and established business software providers.
Niccoli previously co-founded Criteo, the French advertising technology company, while Crespo worked in investment banking and at Index Ventures.
Pigment's software allows companies to connect financial, operational and workforce data within a unified planning environment.
Organizations can build forecasts, analyze performance, model different scenarios and coordinate decisions across finance, sales, human resources and supply chain functions.
The company competes with enterprise planning platforms including Anaplan, Oracle and SAP, while also seeking to replace planning processes built around Microsoft Excel.
Its recent growth suggests that enterprises are increasingly willing to replace existing systems rather than simply add AI features to them.
Pigment reports surpassing $100 million in annual recurring revenue earlier in 2026, doubling year over year.
Customers include Unilever, Siemens, Snowflake, ServiceNow, Danone and Anthropic. The company was also selected by L'Oréal to replace its salary planning system across an organization with more than 95,000 employees.
The new investment will fund development of Graphite, Pigment's proprietary calculation engine, and expand the AI agents operating on top of it.
Graphite is designed to process complex enterprise planning models while maintaining traceability and consistent calculations. Pigment says the engine supports hundreds of billions of data points and allows large numbers of users and AI agents to work within the same governed planning environment.
The company reports that 85% of new metrics created in Pigment are now generated by AI agents.
Its ambition is moving beyond traditional forecasting software toward autonomous planning, where AI agents can build models, evaluate scenarios and eventually execute business planning workflows.
The distinction matters because enterprise planning is not simply a document-generation problem. Financial and operational decisions depend on connected assumptions, data accuracy, business rules and reliable calculations.
Pigment's opportunity is to combine the flexibility of AI with the precision and governance required by large organizations.
However, the competition is substantial. Microsoft, Oracle, SAP and specialized planning vendors already have deep relationships with enterprise customers and control important parts of their technology infrastructure.
Pigment must demonstrate that its AI-native approach delivers enough improvement in planning speed, accuracy and decision-making to justify replacing established systems.
The company's next stage will focus on international expansion, including Asia, and turning its early AI capabilities into repeatable enterprise workflows.