Pigment Raises $250M Series E at $2.3B Valuation to Accelerate Autonomous Planning

Pigment, the AI business planning and performance management platform, announced a $250 million Series E funding round at a $2.3 billion valuation on October 21, 2026. The round was led by the Scaleup Europe Fund managed by EQT, with participation from WIL (World Innovation Lab), existing investors Greenoaks, ICONIQ, IVP and Meritech, and a planned investment from NVIDIA.

The Paris-based company said the capital will accelerate its move toward autonomous planning for global enterprises. Pigment said the $250 million injection will significantly accelerate its R&D and fund the expansion of its engineering team, and that the raise also positions it to expand its presence and growth in new regions.

Pigment co-founders Eléonore Crespo and Romain Niccoli said in the announcement: “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.”

Company-Reported Growth and Customers

Pigment said it surpassed $100 million in annual recurring revenue earlier in 2026, once again doubling year-over-year. In a March 2026 announcement, the company said it was approaching $100 million in ARR after doubling ARR for a third consecutive year, and that 56% of its new customers in 2025 had migrated from a legacy vendor.

The company said adoption of its AI is accelerating as well, reporting that 85% of new metrics in Pigment are now created by an Agent.

Pigment named Danone, DirecTV, Siemens, Snowflake, ServiceNow and Unilever among the large enterprises using the platform, and said Anthropic, ElevenLabs and Uber are among the organizations that use Pigment instead of developing their own internal tools. The company also said L’Oréal is replacing its salary planning tool for more than 95,000 employees globally with Pigment.

Graphite Engine and AI Agents

Pigment said the new funding centers on Graphite, its proprietary, patent-pending compute engine, and the AI agents that run on it. According to the company, Graphite already allows thousands of AI agents and people to work simultaneously on a single governed model, scaling to hundreds of billions of data points with results it describes as deterministic and fully traceable. Pigment said it will keep advancing Graphite to handle larger and more complex workloads, and that it plans to extend its agents beyond building models and analyzing data so they run planning workflows end to end.

The raise follows a series of agent-focused product launches in 2026. The March launch introduced intent modeling, powered by a patent-pending Modeler Agent that turns natural-language descriptions of a desired outcome into governed, production-ready planning models. The same announcement brought an upgraded Analyst Agent that operates in conversational mode and Custom Agents that organizations can configure around their own processes, terminology and internal knowledge.

In a September 2026 announcement, Pigment introduced Frames, a generative UI capability that lets business users turn plain-language descriptions into custom planning interfaces, and Agent Connectors, which let its agents pull real-time context from external tools such as Notion, Google Drive and Slack while respecting existing user permissions. The company also rolled out what it describes as the first free trial on an EPM platform, and Frames opened in beta to all customers on September 28, 2026.

The Scaleup Europe Fund

The round’s lead investor is the Scaleup Europe Fund, a new initiative created under the EU Startup and Scaleup Strategy to help close Europe’s scaleup funding gap. EQT was selected as the fund’s preferred investment adviser and fund manager on May 18, 2026, by the European Commission and fellow founding investors. According to EQT, the fund has a target size of €5 billion and will invest in technology companies across the EU and associated countries, in sectors spanning artificial intelligence, quantum computing, dual-use technologies, clean energy, space technology, biotech and medical innovation, with a strategy focused on privately owned companies from Series B onward.

Alongside the European Commission, the fund’s founding investors include Novo Holdings, EIFO (the Export and Investment Fund of Denmark), CriteriaCaixa, Santander/Mouro Capital, Fondazione Compagnia San Paolo, Intesa Sanpaolo, Fondazione Cariplo, APG Asset Management acting on behalf of Dutch pension fund ABP, and Allianz. EQT said it will make a significant commitment of its own capital to the fund and that it and the founding investors will finalize the remaining documentation, structuring and regulatory steps ahead of the fund’s formal launch.

In the funding announcement, Shannee Braun, Managing Director at EQT and the Scaleup Europe Fund, said 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.”

Earlier Funding

The Series E follows Pigment’s $145 million Series D, announced on April 4, 2024. ICONIQ Growth led that round, with participation from Sandberg Bernthal Venture Partners and existing investors IVP, Meritech, Greenoaks and Felix Capital; according to the Series D announcement, ICONIQ Growth had also led the company’s Series C close to a year earlier. Pigment said at the time that the Series D followed a year in which it tripled its annual recurring revenue and doubled its customer base globally, with the majority of the company’s revenue coming from North America.