LumApps, the SaaS provider of cloud-based enterprise communication solutions, announced a $70 million (approx € 63.1 million) Series C funding round, bringing the company’s total amount raised to around $100 million (approx € 90.1 million).
The funding round was led by the new investor Goldman Sachs Growth along with other investors, including Bpifrance, through its Growth Fund Large Venture, alongside Idinvest Partners, Iris Capital, and Famille C (Courtin-Clarins’ family office).
Sébastien Ricard, CEO of LumApps, said:
It’s crucial for companies today to connect and engage all of their employees, and that can only happen when they have a way to centralize all communications, workflows, and applications. It’s incredibly gratifying to play a part in seeing our customers unleash such levels of productivity, and this investment represents our commitment to their success. We are tremendously grateful to our customers and, of course, my co-founders and team for making this all possible. We look forward to another year of exceptional growth.
For the uninitiated, LumApps is a social and collaborative intranet platform designed to connect, inform, and engage employees. This innovative digital workplace equips organisations to break down silos and streamline internal communication.
With the new fund, the company is planning to invest in R&D with a particular focus on Artificial Intelligence and Machine Learning. The new financing will fuel the next phase in LumApps’s growth, including accelerating product innovation and investing in sales and marketing to meet global demand for the company’s digital workplace suite.
Notably, the company powers platforms for hundreds of the most prominent enterprise companies in the world, including Airbus, Intuit, Electronic Arts, Colgate-Palmolive, Motorola, Logitech, Valeo, Japan Airlines, and Google Cloud.
Christian Resch, Managing Director Goldman Sachs Growth, said:
LumApps has exceptional technology, visionary leadership, and an impressive roster of customers across industries and regions. LumApps is a great fit with Goldman Sachs Growth’s strategy of supporting best-in-class technology entrepreneurs with their ambition to build global category leaders in large markets. We are very excited to partner with Sebastien and his team, and we will make our global platform available to support LumApps’ expansion plans.
Main image credits: LumApps
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