Building the GPS of the finance team: our investment in Pigment
We are delighted to announce our participation in Pigment’s Series C funding round — an $88 million investment led by ICONIQ Growth. Created in Paris, Pigment provides a business planning and forecasting platform aimed at business leaders and their Finance, HR and Sales teams. This investment, driven by the company’s exceptional growth and customer love, sees Felix join previous investors Meritech, IVP, and FirstMark, and catapults Pigment’s total funding to $248M.
At Felix, we’ve been amplifying our focus on the SaaS landscape in the last few months. Pigment is the latest addition to our growing portfolio of SaaS companies, accompanying the likes of TravelPerk, Mirakl, Yoobic, Vue Storefront and Unmind.
As a next-generation alternative to legacy EPM players, Pigment seeks to empower their customers with a user-friendly, data-centric, and collaborative tool adept at navigating volatile business environments. In just a few years, they have signed a number of flagship customers, including Figma, Miro, Carta, Gong, Airtable, PVH, Webhelp, ClickUp and Klarna.
We’ve always believed in the power of data and recognised its significance in driving the success of modern businesses. Companies which can effectively leverage data have a competitive advantage in understanding customer behavior, planning and forecasting, optimizing operations, and driving growth. Pigment brings this power to the business leaders and their teams, democratizing access to financial data and ultimately helping finance teams make better, more informed decisions. The 600% increase in revenues, the 10x increase in customers YoY, the positive feedback and passion we’ve heard from customers and partners affirm that Pigment’s platform stands out in a market that has not seen a lot of innovation lately and it’s making a substantial difference for its users, who are currently dealing with a lot of uncertainty.
There’s also a special connection between Pigment and Felix. Our very own Julien Codorniou was one of the first individual investors in Pigment, from day one. He believed in the team’s vision and has been closely involved with the company since its early days. Now, he’s leading this investment round for us at Felix Capital.
“We’ve had the privilege of working with Julien since the very beginning of Pigment, and we’re happy that he will continue to be involved with the investment from Felix Capital. Partnering with Felix, a firm at the intersection of technology and creativity, was a no-brainer given our ambition to redefine business planning, building inclusive and delightful experiences” says Eléonore Crespo, Co-Founder and Co-CEO of Pigment.
Pigment’s journey has been one of rapid growth, innovation, passion and drive — all the elements that we value highly at Felix Capital. Since founding, the company has signed over 100 high profile clients, expanded internationally and created a market leading product on-par with its much older competitors. We’ve been impressed by Pigment’s vision and remarkable execution, and believe the company has all the hallmarks of a European SaaS champion. Everyone at Pigment wakes up every day to serve and delight their customers and their partners. And we are thrilled to be a part of its journey.
