Pigment raises $88 million Series C to redefine business planning

Since we founded Pigment in 2019, we’ve helped business leaders overcome critical challenges; navigating economic uncertainty, increasing efficiency in making strategic decisions and preparing for a new, innovative era of business planning.

When we started the company, there was a clear gap in the market. But we didn’t know then what we know now: that this gap would continue to grow with the pace of change in global conditions.

Pigment is more critical now than it was then; more critical than ever. We are uniquely positioned to navigate a changing world, the new, new normal, where flexible, instantaneous planning is a necessity to bring people, data and processes together.

Today we are privileged to share that we raised our $88 million Series C led by ICONIQ Growth, bringing our total funding to $248 million. We are absolutely thrilled to continue our mission to redefine business planning fueled by this new funding.

Financing follows a strong growth trajectory and product innovation

Our journey was marked by some notable milestones. In the past year, our user base has increased tenfold and we are honored to have earned the trust of well-known companies such as Klarna, Miro, PVH (including brands such as Tommy Hilfiger and Calvin Klein), Airtable, Figma, Webhelp and Poshmark, who have Pigment as their preferred solution.

We are also excited about our progress in North America and our partnerships with larger companies. Recognizing Pigment’s potential to create and sustain meaningful global impact over the long term, we have carefully selected ICONIQ growth as our funding partner for this latest round.

What really inspires us is the shared vision we have with ICONIQ Growth, a commitment to shape a future that makes a lasting difference. Through our partnership, we strive to continue to push boundaries and drive innovation.

Further expansion in North America is an important facet of Pigments’ goals

In 2022, we deliberately chose to focus more on the American market, which led to good results. As a result, we have strengthened our presence in North America and welcomed new customers such as Brex, Gong, ClickUp and Evenflo to the Pigment family.

To support our growth in the US and Canada, we have strategically hired experienced leaders in key positions. In particular, Sean Brophy, our Global Head of Sales, joined us from Alteryx, where he successfully led business sales. In addition, Vanessa Brangwyn, our Global Head of Customers, brings her expertise as a former Chief Customer and Revenue Officer at Achievers. These strategic senior leadership hires further strengthen our capabilities and drive our commitment to customer success in North America.

Our announcement of the Series B+ in September 2022 was a testament to the substantial investments we had already made in the US and Canada. We didn’t stop there though; we have consistently driven our expansion efforts in a responsible manner. Today, our dedicated North America team consists of more than 70 talented individuals, further strengthening our commitment to the region. We also opened a new office in Toronto, demonstrating our commitment to serving our North American customers. – Sean Brophy, Global Head of Sales, Pigment

Pigment to invest in AI, automation, and enhanced sales and HR planning capabilities

We are incredibly passionate about the power of intuitive product experiences in driving accessible planning. From the very beginning, our mission has been to unify people, data and processes within one platform so that they can plan, make informed decisions and seamlessly adapt to change.

With the recent introduction of Pigment AI, we are taking our commitment to the next level. Our determination to develop a chat-like interface that automates tasks, eases user onboarding, and provides easy access to Pigment is unwavering. We firmly believe that these advancements will enable companies to remain resilient and agile in an ever-changing business landscape.

In addition, the capital we have raised will drive the expansion of Pigment’s capabilities. We are committed to improving our features specifically tailored to HR and sales planning. These enhancements include area heatmaps and automated workflows designed to streamline collaboration across budgeting, planning, and reporting cycles. By focusing on these areas, we are propelling Pigment towards its goal of enabling more employees and teams to collaborate seamlessly in real time during planning cycles.

The opportunities ahead are truly exciting as we continue to push boundaries and revolutionize the way organizations plan and adapt. Together we shape a future where planning is integrated, intuitive and adaptable.

Pigment unlocks efficiency, confidence and resilience to fight the turbulent economy

Since we started with Pigment, every new day has brought new challenges and opportunities that we didn’t always anticipate. We have had to act quickly and adjust our plans quickly, sometimes overnight. We regularly encounter the same challenges that we help our customers solve.

Yet many companies today are not as lucky as we are, and are still held back by rigid, inflexible tooling.

Pigment unlocks capabilities vital to leaders tackling challenges our customers face every day, such as weighing the consequences of every what-if scenario in an instant and moving seamlessly from strategy to execution.

With this new round of funding, and thanks to the support of our community, we are proud to lead the revolution of integrated, customizable and intuitive business planning and analytics.

To learn more about how Pigment can redefine your organization’s business planning, contact us to request a demo or view a live product tour.