Pigment has raised $250 million in Series E funding at a valuation of $2.3 billion to expand its AI-powered business planning platform and accelerate product development.

The funding round was led by Scaleup Europe Fund, managed by EQT, with participation from WIL (World Innovation Lab) and existing investors Greenoaks, ICONIQ, IVP and Meritech. NVIDIA is also expected to invest in the company.

Pigment will use the new funding to strengthen its research and development, expand its engineering team and improve its AI technology. The company also plans to expand into new markets and develop AI agents that can manage business planning tasks with less manual work.

The company crossed $100 million in annual recurring revenue (ARR) earlier this year, doubling its revenue year-on-year. It also reported growing adoption of its AI tools, with agents creating 85% of new metrics on its platform.

Pigment serves large businesses, including Danone, Siemens, Snowflake, ServiceNow and Unilever. AI companies such as Anthropic, ElevenLabs and Uber also use its platform to work with enterprise data and support business planning.

‍Pigment Co-Founders Eléonore Crespo and Romain Niccoli said, “Enterprise planning will change more in the next few years than it has in the last thirty. Legacy tools are being left behind, and the world’s most advanced AI companies now run their planning on Pigment. With the backing of our investors, we are moving fast to make autonomous planning a reality for every enterprise. With AI agents running planning workflows end to end and turning decisions into action, companies can respond to change as fast as it happens.”

The company is also working with L’Oréal, which is replacing its salary planning tool for more than 95,000 employees with Pigment’s platform.

The funding will support further development of Graphite, Pigment’s proprietary computing engine, which helps people and AI agents work with large amounts of business data. The company aims to expand its AI agents’ capabilities from building models and analysing data to managing complete planning workflows.

“In most companies, the richest picture of how a business actually runs sits in its plans. Pigment has built that foundation with a single platform connecting finance, sales and workforce planning – and put AI agents to work on it, helping teams model, analyse and act in hours rather than months. 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, EQT and Scaleup Europe Fund.

Founded to help businesses make better decisions using data, Pigment develops AI-powered software for financial planning, sales, workforce management and other business functions. The company aims to help enterprises respond to changes faster through automated planning and analysis.