The logo of the spreadsheet software Microsoft Excel is shown on the display of a smartphone. French business planning software startup Pigment has raised $88 million in a funding round led by ICONIQ, the private investment fund that manages the money of tech billionaires such as Mark Zuckerberg and Jack Dorsey. Pigment is best known for its business planning and forecasting platform that's designed to be more user-friendly than Microsoft's spreadsheet software Excel. As well as Microsoft, Pigment also views enterprise software tools from giants like Google, SAP and Oracle as rivals. It introduced a new service called Pigment AI last month, on the heels of heightened buzz surrounding AI and products like ChatGPT, which lets clients query data, identify patterns and automate analysis and reporting.

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Persons: ICONIQ, Mark Zuckerberg, Jack Dorsey, Eleonore Crespo, Romain Niccoli, FirstMark, Klarna, Miro, Tommy Hilfiger, PVH, Crespo Organizations: CNBC, Venture, Felix Capital, Google, SAP, Oracle, behemoth, Microsoft Locations: U.S