Nvidia-Backed Pigment Raises $250 Million at $2.3 Billion Valuation

French technology company Pigment has raised $250 million in Series E funding at a $2.3 billion valuation, strengthening its position in the competitive market for artificial intelligence-powered enterprise software. Announced on October 21, 2026, the funding round was led by the Scaleup Europe Fund, managed by investment firm EQT, with participation from existing investors and World Innovation Lab. Nvidia is also expected to participate in the round, following its previously announced plans to acquire a minority stake in Pigment. The investment comes as businesses increasingly adopt AI tools to improve financial forecasting, manage resources and make faster strategic decisions. Pigment intends to use the new capital to accelerate product development, expand its engineering team and strengthen its international presence.

Founded in Paris in 2019, Pigment develops software that helps businesses manage financial planning, budgeting, forecasting and operational decision-making. Its platform connects information from different departments, allowing companies to analyse financial performance, model possible business scenarios and evaluate the consequences of strategic decisions. Rather than relying entirely on spreadsheets and disconnected software systems, organisations can use Pigment to bring financial, workforce, sales and supply-chain information into a more integrated planning environment. The company serves major organisations, including Unilever, Siemens, Snowflake, ServiceNow and Anthropic. Its technology is designed to help businesses respond more quickly to changes in demand, operating costs and market conditions.

Artificial intelligence is becoming an increasingly important part of Pigment’s strategy. The company is developing AI agents that can assist users with creating planning models, analysing business data and carrying out more complex workflows. Pigment reported that it surpassed $100 million in annual recurring revenue, with revenue doubling year over year. It also said that 85% of new metrics created on its platform are now generated by an AI agent, highlighting the growing role of automation within its products. The company plans to invest further in its proprietary Graphite computing engine, which is designed to support large-scale planning models while maintaining traceable calculations. Pigment believes that combining AI agents with reliable enterprise data could allow organisations to automate more planning activities and move from analysing information to executing decisions.

Nvidia’s involvement adds strategic significance to the funding round. The semiconductor giant has been expanding its investments in European AI companies as demand for computing infrastructure and AI applications grows. In October, Nvidia announced investments in several French technology businesses, including healthcare platform Doctolib and robotics company Genesis AI, while reports also identified Pigment and materials-research startup Entalpic among the companies receiving Nvidia backing. The financial terms of Nvidia’s individual investments have not been publicly disclosed. For Pigment, the relationship could strengthen its position within the AI ecosystem and provide opportunities to develop more advanced enterprise applications. However, the Scaleup Europe Fund, rather than Nvidia, led the newly announced $250 million funding round.

The new funding places Pigment in a stronger position to compete with established enterprise software providers, including Microsoft, Oracle, SAP, Anaplan and Workday. Many large organisations still depend on spreadsheets and traditional planning systems that can be difficult to update when business conditions change rapidly. Pigment is attempting to differentiate itself through integrated data modelling, AI-assisted analysis and increasingly autonomous planning workflows. Nevertheless, the company must demonstrate that its technology can deliver reliable results across complex business operations, where inaccurate forecasts or poorly controlled automated decisions can have significant financial consequences. Its ability to expand internationally, maintain customer confidence and convert AI adoption into sustainable revenue growth will be important to its long-term success. The $250 million investment provides additional resources for that expansion, while the $2.3 billion valuation reflects investors’ expectations for the future of AI-driven enterprise planning.