-41%

est. 2Y upside i

Series D+

Business planning and performance platform for finance and revenue teams

Rank

#2049

Sector

Enterprise Software / FP&A

Est. Liquidity

~4Y

Data Quality

Data: Medium

Pigment has real AI tailwind and strong logos, but $397M preference stack means common only participates above ~$1.5B.

Last updated: March 20, 2026

Bull (20%)+200%

$400-600M ARR, agentic AI differentiates. IPO at 8-10x = $3-5B.

Base (45%)+60%

$200-300M ARR, near-breakeven. M&A at 6-8x = $1.5-2B.

Bear (35%)-55%

Workday/SAP bundle, growth sub-30%, down round. $397M prefs eat exit.

Est. time to liquidity~4.0 years

Preference Stack Risk

high

Funding Intensity

40%

$397M preferences; sub-$500M exit = common worthless.

Dilution Risk

high

Unknown ARR; down round possible if growth disappoints.

Secondary Liquidity

none

Paris HQ; Carta/Forge at 30-50% discounts.

Questions to Ask at the Interview

Strategic questions based on Pigment's data — designed to show you've done your homework.

  • 1

    Current ARR and NRR?

  • 2

    Cash runway vs profitability path?

  • 3

    Workday Adaptive competitive differentiation?

Cluster Peers

Expected Upside

Pilot
-83%

Community

Valuation Sentiment

Our model estimates -41% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.