Pigment raises $250M to challenge Microsoft’s Excel and PowerPoint

Pigment, a Paris-based AI software startup, has raised $250 million to take on two of the most entrenched programs in corporate life: Microsoft Excel and PowerPoint. The round, closed on October 20, 2026, values the company at $2.3 billion post-money. Who wrote the checks The Scaleup Europe Fund led the financing. Nvidia and World Innovation Lab joined as new participants. Existing backers Iconiq, IVP and Meritech Capital also came back for more. Nvidia’s involvement was not a total surprise. CEO Jensen Huang had hinted at the investment during an earlier visit to France. The headline metric behind the valuation is revenue. Pigment’s annual recurring revenue has passed $100 million, doubling from the previous year. CEO Eléonore Crespo expects ARR to double again. What Pigment actually sells Pigment builds software for business planning, financial forecasting and scenario modeling. The category is usually called enterprise performance management. Pigment’s tools span finance, HR, sales and supply chain. The company says more than 90% of its customers use the product across multiple departments. Users can interact with the platform in natural language and automate tasks. Pigment also...