Nvidia-Backed French AI Startup Pigment Raises $250M at $2.3B Valuation

French software startup Pigment raised $250M at a $2.3B valuation in a funding round led by the Scaleup Europe Fund, which is overseen by EQT. Nvidia $NVDA and US-Japan fund World Innovation Lab joined the round alongside existing institutional investors Iconiq, IVP, and Meritech Capital, while CEO Eléonore Crespo plans to add Asian investors to support regional expansion. Pigment passed $100M in annual recurring revenue after doubling from the prior year, and Crespo said the company expects to double its ARR again next year. Founded in 2019, Pigment builds AI-powered software for financial forecasting, operational planning, and slide creation, serving as the financial planning system for Anthropic and powering salary planning for L'Oreal's 95,000 employees. The company aims to win customers using software from Microsoft $MSFT, SAP, Oracle, IBM, and Anaplan by building AI agents that sit on top of existing enterprise resource planning systems. "If the AI system is not completely designed for you to be able to use it day one — speaking natural language, feeling comfortable, feeling at home, with everything already plugged in, all of your data, all of your systems — in it’s going to be very hard for you to adopt it." — Eléonore Crespo, Co-founder and CEO of Pigment