It is this type of need that the company intends to address on a large scale. L’Oréal therefore chose its platform to replace its payroll planning tool, covering a scope of more than 95,000 employees worldwide.
A new fundraising to expand an already established activity
Created in 2019 by Eléonore Crespo and Romain Niccoli, Pigment announces having doubled its recurring annual revenues in one year. It surpassed the $100 million ARR threshold earlier in 2026. This indicator represents the annualized value of its recurring revenues; it corresponds neither to the turnover recorded for the year nor to the profit.
This milestone gives a measure of the progress made, and does not mean that the investments necessary for the development of the company have been completed. To continue to grow, Pigment must sign new contracts, successfully deploy them and convince its customers to use the platform in more functions.
International conquest constitutes the other lever. During its previous fundraising, in 2024, Pigment already indicated that it generated the majority of its revenues in North America. The new funding must support its expansion into new countries.
Each financing round accompanies a different stage
The sequence of lifts allows you to understand this progression. With its Series C in June 2023, Pigment announced investments in the product, sales teams and partnerships. The April 2024 Series D was expected to strengthen its presence among North American customers and accelerate the development of the platform. The E-Series announced today adds a priority: expanding computing capabilities and AI agents to support more complex planning processes.
This succession of financing is found among other business software publishers. Dataiku completed a series D in 2020, a series E in 2021 and a series F in 2022. During the last of these rounds, the company announced more than 500 customers and had already exceeded the recurring revenue threshold communicated today by Pigment. However, it continued to raise funds to develop its platform and continue its growth.
Contentsquare followed a comparable sequence in 2021 and 2022, with a Series E then financing combining equity and debt, while its recurring revenues already reached several hundred million dollars.
These examples clarify Pigment’s logic: a large customer base can justify new investments to accelerate development, but do not allow us to know how much of its growth Pigment could finance alone from its cash flow.
Graphite, the engine behind the forecasts
To serve large groups, Pigment needs to be able to handle larger models used by multiple teams simultaneously. A forecast change can result in numerous recalculations, while other users continue to view the data or prepare their own scenarios.
This is the role of Graphite, its proprietary engine. According to the publisher, its architecture makes it possible to adapt computing resources to the activity, to share data according to the rights of each user and to maintain access to models during processing.
Funding must make it possible to strengthen this engine and the teams that develop it. Pigment claims the ability to manage hundreds of billions of data points and have thousands of agents and users work on the same governed model.
AI must go beyond model preparation
Pigment indicates that 85% of new metrics created in its platform are now created by an AI agent.
The company wants to expand these capabilities. After creating models and analyzing data, its agents must gradually take on more complete sequences of tasks. The ambition is to reduce the work needed to build a forecast, understand a gap and update a plan.
This development places Pigment against competitors who are also pursuing automation. Anaplan develops agents specialized in planning functions, while Workday evolves Adaptive Planning towards natural language interactions and AI-assisted scenario exploration.
To win new contracts, Pigment will therefore have to demonstrate the benefits of its approach in real conditions of use: connecting existing systems, repeating models, training teams and reducing the time spent preparing forecasts. The next commercial milestone will depend as much on these deployments as on the announced capabilities of its agents.
Founded by Eléonore Crespo and Romain Niccoli, Pigment announces on October 21, 2026 a series E of approximately 223 million eurosfor a valuation of approximately 2.05 billion euros. The tour is led by Scaleup Europe Fund, managed by EQTwith World Innovation Lab and existing investors Greenoaks, ICONIQ, IVP and Meritech. A NVIDIA investment is plannedwithout being presented as completed. The funds are to finance R&D, strengthening engineering teams, the development of Graphite and AI agents, as well as international expansion.
The Pigment ad amounts are converted at the reference rate of October 20, 2026, i.e. 1 euro for 1.1215 dollars, and rounded. The euro equivalent of the ARR threshold is indicative.
