In 2022, an impressive $65 million raised by Pigment in a Series B+ funding round led by IVP and Meritech Capital built on a $73 million Series B round in 2021, led by Greenoaks and other investors.
The rapidly growing France-based software company earmarked some of this capital for a strategic expansion into Canada.
Pigment announced this week that it is opening an office in Toronto. This move comes as Pigment’s fourth office, adding to existing locations in Paris, London, and New York.
With customers and employees already based in Canada, this expansion will allow Pigment to strengthen its position in a market that “has significant growth potential from both a business and talent perspective,” according to a statement from the firm.
The Canadian team will be led by Andrew Cudmore and Vanessa Brangwyn, who previously worked together at Achievers.
Serving as General Manager for Canada from Toronto, Cudmore says Pigment can help businesses “plan and forecast in a seamless, flexible and collaborative way has never been more critical.”
“Business leaders are navigating a melting pot of challenges right now, including economic uncertainty, inflation, workforce management, and the fallout from global events,” he said.
Things may be turbulent right now as Cudmore correctly points out, but nonetheless Brangwyn remains optimistic for the Canadian market.
“In the midst of rapid change, we’re seeing increased demand for modern enterprise planning software that empowers businesses to drive growth responsibly, navigate uncertainty, and unlock their full potential,” she said.
Pigment will continue to expand its employee base in Canada throughout 2023, according to a statement, “tapping into the wealth of tech talent already concentrated in Canada,” which leads the G7 as the most-educated workforce.
“Investing in Canada was a no-brainer for us,” affirmed Eléonore Crespo, co-CEO of Pigment. “Given increased demand in Canada, and a fast-growing US customer footprint, opening the Toronto office ensures we can better support enterprises that want to plan confidently for the future and make better decisions.”
The company stated that it is expecting to hire at least 20 management and commercial field roles with Canada.