Pigment, a French startup, has raised a new round of funding just over a year after raising a $73 million Series B round. If you’re unfamiliar with Pigment, the company creates a platform for business planning and forecasting.
It can replace Microsoft Excel for small businesses that are growing because it is more secure and solid in general. For larger organizations that already use an Oracle or SAP business planning product, Pigment can replace these legacy platforms with something more modern.
This new $65 million round is dubbed a “Series B+” by the company because it is roughly in the same ballpark as its Series B. While Pigment has not disclosed its valuation, it is expected to rise as a result of today’s transaction.
Pigment currently employs approximately 170 people. The company’s annual recurring revenue is increasing quickly (5x in 6 months), and it now has 100 customers, including Webhelp, PayFit, Forto, Gong, Figma, Carta, and ClickUp.