Pigment\u2019s co-founder and co-CEO El\u00e9onore Crespo told me that she doesn\u2019t need to raise more money to turn her company into a long-term, stable business. Of course, market conditions could change and Pigment could end up raising more next year.<\/p>\n<\/blockquote>\n

I talked to her once again and asked her why she raised a Series C so quickly after the previous funding round. \u201cWe weren\u2019t raising money at all. Here\u2019s how I work: I try to have investor catch-ups once a year with potential investors for the next round. Several American funds told me \u2018we\u2019d like to invest now and offer you great terms. You have a product that is truly mission critical for any company,\u2019\u201d Crespo told me.<\/p>\n

She also mentioned that they still have a lot of cash in the company\u2019s bank account, but you have to raise when the terms are right and market conditions are tough. \u201cWe still had all the money from the previous round and even a little from the round before that,\u201d she said.<\/p>\n

While Pigment isn\u2019t disclosing the valuation of the company after this round, it is still growing despite the difficult market conditions when it comes to startup funding.<\/p>\n

That\u2019s because Pigment has grown its revenue by 600% in 2022 compared to 2021. Some well-known companies are using the platform, such as Klarna, Miro, Airtable, Figma, Webhelp, Poshmark, Eventbrite, Mozilla and an unnamed French CAC40 public company.<\/p>\n

In particular, CFOs like the product and talk about it with other CFOs. Once a business unit or a subsidiary starts using Pigment, other teams tend to create accounts and use the product as well. Only 10% of Pigment\u2019s clients use the product exclusively for financial planning.<\/p>\n