LumApps raises USD70m in Series C Funding led by Goldman Sachs
LumApps, a Software as a Service provider of cloud-based enterprise communication solutions, has completed a USD70 million Series C funding round, bringing the company's total amount raised to around USD100 million.
New investor Goldman Sachs Growth led the round with participation from Bpifrance, through its Growth Fund Large Venture, alongside Idinvest Partners, Iris Capital, and Famille C*.
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. Built upon its Social Intranet, LumApps Employee Social Advocacy enables quick and easy social sharing.
"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 centralise all communications, workflows, and applications," says Sébastien Ricard, CEO of LumApps. “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.”
LumApps 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. 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.
“LumApps has exceptional technology, visionary leadership and an impressive roster of customers across industries and regions,” says Christian Resch, Managing Director Goldman Sachs Growth. “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 will make our global platform available to support the Lumapps expansion plans.”