Pigment raises $250M at $2.3B valuation in Series E round led by EQT

Pigment, a Paris-based artificial intelligence software maker focused on business planning, announced on Wednesday that it has raised $250 million in a Series E funding round. This investment values the company at $2.3 billion, marking a significant step in its growth trajectory within the European tech sector.

The Scaleup Europe Fund, managed by Swedish investment firm EQT, led the financing round. Nvidia also plans to invest in the company, adding to the chipmaker’s recent series of investments in European startups. The Scaleup Europe Fund is backed by the European Commission alongside private investors such as Allianz and Novo Holdings.

Context and Background

The Scaleup Europe Fund aims to raise €5 billion and began investing this year with the specific goal of preventing fast-growing European technology companies from seeking capital abroad. World Innovation Lab joined the latest round alongside existing investors Greenoaks, ICONIQ, IVP, and Meritech. Pigment previously closed a $145 million Series D round in April 2024, which was led by ICONIQ Growth.

Nvidia’s stake in Pigment has not yet been finalized, and the chipmaker did not disclose the specific amount it will invest. This participation aligns with Nvidia’s broader strategy of backing several European startups this year as part of a wider push into the European market. The company has been actively expanding its presence and investments across the continent.

Who is Affected

Companies use Pigment’s platform to plan budgets, sales targets, and hiring within a single shared model. The company reports that 85% of new metrics on its platform are now created by an AI agent rather than a human user. Its annual recurring revenue passed $100 million earlier this year, having doubled again in recent periods.

Pigment’s customer base includes major corporations such as Danone, DirecTV, Siemens, Snowflake, and Unilever. It also serves AI companies like Anthropic and ElevenLabs. L’Oréal is currently moving salary planning for more than 95,000 staff members onto the software, highlighting the platform’s scalability for large enterprises.

What should you do?

Most of the new capital will be directed toward research and hiring engineers. These hires will work on Graphite, the computing engine underlying the product, and on agents capable of running entire planning tasks from start to finish. Co-founders Eléonore Crespo and Romain Niccoli stated that enterprise planning will change more in the next few years than it has in the last thirty.

Shannee Braun, a managing director at EQT who works on the fund, noted that Crespo and Niccoli have built a global category leader from Paris. The investment underscores the growing confidence in AI-driven business planning tools and the strategic importance of retaining top European tech talent within the region.

What to do and how to stay safe: Pigment

• Monitor vendor announcements for updates on new AI features that may alter workflow automation.
• Review current budget and planning software contracts to ensure they align with evolving AI capabilities.
• Evaluate how AI agents on your platform handle sensitive financial and hiring data.
• Stay informed about major funding rounds in your sector to anticipate market shifts and consolidation.

Step-by-step guide: Prompt Injection Warning Signs: How to Spot AI Manipulation

General security guidance from the Threat Times newsroom. It is not confirmed advice from the organisations named in this story.

Frequently asked questions

How much funding did Pigment raise in its latest round?

Pigment raised $250 million in a Series E round that valued the company at $2.3 billion.

Which fund led the investment in Pigment?

The Scaleup Europe Fund, managed by Swedish investment firm EQT, led the investment round.

What will Pigment use the new money for?

The company will use most of the new money for research and hiring engineers to work on its Graphite engine.