Pigment's Series E leaves NVIDIA's stake as planned
Pigment's Series E is $250 million at a $2.3 billion valuation, led by the Scaleup Europe Fund, with NVIDIA's stake still described as planned.
Pigment has put a $250 million Series E on the record at a $2.3 billion valuation, and the wording the company repeats is the one that matters: NVIDIA's participation is planned. The founders' post of 21 October 2026, the newsroom note the same day and the PR Newswire release datelined Paris all use that formulation. Scaleup Europe Fund, managed by EQT, led, with WIL (World Innovation Lab) and existing investors including Greenoaks, ICONIQ, IVP and Meritech taking part.
A planned stake can still be completed later, while the pages treat the $250 million and the $2.3 billion valuation as the terms announced that day and leave any dollar amount for NVIDIA off the page. Pigment says it surpassed $100 million in annual recurring revenue (ARR) earlier this year, doubling again on the year before. On the fintech desk, Pigment's $250 million sits with large late-stage amounts such as Tabby's Series F and Moss at the €1 billion mark, rather than with a smaller artificial intelligence (AI) seed such as BOB AI Holdings.
What the Scaleup Europe Fund is backing
The release describes the Scaleup Europe Fund as a commercially driven vehicle targeting €5 billion of public and private capital for European technology companies across deep tech, AI applications and life sciences. EQT is described there as a global investment organisation with more than three decades of experience and €341 billion in total assets under management. Shannee Braun, managing director at EQT and the Scaleup Europe Fund, said Eléonore Crespo and Romain Niccoli "have built a global category leader from Paris, and that is exactly the kind of company the Scaleup Europe Fund was created to back." The newsroom item is tagged San Francisco, so the company's own pages place the announcement in both cities.
Customers the announcement names
The wire copy names Danone, DirecTV, Siemens, Snowflake, ServiceNow and Unilever as enterprises where Pigment says it is displacing legacy tools, plus Anthropic, ElevenLabs and Uber, which it says chose the platform over an internal build. The founders' post names Unilever, Snowflake, Siemens, Anthropic and ElevenLabs. L'Oréal is the deployment with a headcount: Pigment says the group is replacing its salary-planning tool for its 95,000-plus employees globally. The announcement offers those names as the commercial proof, and it is silent on the legacy vendors involved and on any reply from them.
Agents, Graphite and where the capital goes
The release says 85% of new metrics in Pigment are created by an agent. The founders' post adds that 84% of accounts use AI every week and that, over the past nine months, the company shipped more than 50 AI capabilities, led by the Modeler Agent, which builds planning models and custom interfaces from plain-language instructions. The same post names a Planner Agent, designed to run planning cycles end to end, and says Pigment connects to tools such as Claude so teams can plan from software they already use.
The founders describe the destination as autonomous planning: AI builds the forecast, runs the scenarios, updates the plan and then executes, inside guardrails the customer's team sets. Under that sits Graphite, the proprietary, patent-pending compute engine the release says the capital will keep advancing. The wire copy says Graphite already lets thousands of people and AI agents work at once on one governed model, scaling to hundreds of billions of data points, with results the company calls deterministic and fully traceable. The $250 million is assigned to research and development and a larger engineering team on Graphite and those agents, and the newsroom note adds presence in new regions.
What the founders put on the record
Eléonore Crespo and Romain Niccoli, co-founders and co-chief executives, said in the release that enterprise planning "will change more in the next few years than it has in the last thirty," and that "the world's most advanced AI companies now run their planning on Pigment." Braun added that the platform connects finance, sales and workforce planning, and that agents help teams "model, analyse and act in hours rather than months." The planned NVIDIA investment stays an intention until Pigment describes a size and a close.
Figures above come from Pigment's founders' post and newsroom note of 21 October 2026 and from the PR Newswire release of that day. Round size, valuation, investor roles, the ARR line and the product percentages are company statements, not audited figures, and they are not a recommendation to buy or sell any security.
Reporting by Rick Steves. Filed 27 October 2026, 14:50 GMT.
Senior Reporter, Regulation and Fintech
Rick Steves has seen business and economics through many lenses. He joined the financial services industry in 2009, and has been a financial journalist since 2011.
