Pigment raises $250m at a $2.3bn valuation to put agents into planning

Pigment raises $250m at a $2.3bn valuation to put agents into planning

21 October 2026: Pigment, the business planning platform founded in Paris, says it has raised a $250 million Series E at a $2.3 billion valuation, led by the Scaleup Europe Fund that EQT manages. The money is for Graphite, its own compute engine, and for AI agents that it wants to run planning workflows from start to finish rather than only build models and answer questions.

Not yet independently verified. The euro figure some outlets give (about €223 million) is their conversion, not a figure Pigment states, and the release calls NVIDIA's investment planned rather than completed. We will update this when it can be confirmed, and remove this note.

Who put money in

The round was led by the Scaleup Europe Fund, with WIL (World Innovation Lab) joining and existing investors Greenoaks, ICONIQ, IVP and Meritech taking part. The release also lists "a planned investment from NVIDIA", worded as planned rather than closed. The fund itself is new: it describes a target of €5 billion from public and private capital for European companies in deep tech, AI applications and life sciences, and EQT says it manages €341 billion in total. Tech.eu, which reported the round the same day, puts Pigment's previous round at $145 million in 2024, led by ICONIQ.

"Eléonore and Romain have built a global category leader from Paris, and that is exactly the kind of company the Scaleup Europe Fund was created to back," said Shannee Braun, managing director at EQT and the Scaleup Europe Fund.

The numbers Pigment puts forward

Pigment says it passed $100 million in annual recurring revenue earlier this year, doubling again year on year, and that 85% of new metrics in Pigment are now created by an agent rather than by a person. It names Danone, DirecTV, Siemens, Snowflake, ServiceNow and Unilever among its customers, and Anthropic, ElevenLabs and Uber among the AI companies that plan on it. The largest single deployment it describes is at L'Oréal, which is replacing its salary planning tool with Pigment for more than 95,000 employees worldwide.

The co-founders, Eléonore Crespo and Romain Niccoli, put the bet plainly: "Enterprise planning will change more in the next few years than it has in the last thirty."

What Graphite is meant to do

Graphite is the patent-pending engine under the product. Pigment describes it as letting thousands of agents and people work on the same governed model at once, across hundreds of billions of data points, with results that are deterministic and traceable. That last point is the one finance teams will test: a forecast that changes when the same question is asked twice cannot go to a board, so an agent that edits a plan has to leave a trail a controller can follow. The round pays for more engineers on Graphite, larger and more complex workloads, and agents that carry a planning cycle through rather than stopping at analysis. Pigment also plans to grow in new regions, which it does not name.

Where it sits in our catalogue

Pigment connects finance, sales and workforce planning in one model, which puts it against spreadsheet planning on one side and the older enterprise performance management suites on the other; Tech.eu names Excel, SAP, IBM and Anaplan as the competition. We list Pigment's company profile and its product page, which sits among the seven products in our budgeting software category; our strategic planning software category lists 15.

Related on TrustList:

• Plinto raises €2.9m to put AI agents on financial controls
• Ascerta, formerly Pay-i, raises $18 million Series A led by Dell Technologies Capital for enterprise AI management

Sources

• Pigment: Pigment raises $250M at $2.3B valuation, 21 October 2026
• Tech.eu: Scaleup Europe Fund leads funding round in Pigment, 21 October 2026