LumApps, a cloud-based enterprise communication platform, raised $70 million in a Series C funding round, bringing the company’s total amount raised to date to around $100 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 (Courtin-Clarins’ family office).
The company plans to use the new funds to accelerate its investment in the following key areas:
- R&D investment with a particular focus on Artificial Intelligence and Machine Learning;
- Product development to further enhance the customer experience, broadening the set of Development Integrations and Add-Ons;
- Growing the Sales and Marketing organization to enter additional geographies like Canada, Asia Pacific, and Germany;
- Hiring more than 150 employees in 2020; and
- Potential M&A.
“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,” said 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.”
The LumApps enterprise communication platform is designed to connect, inform, and engage employees. LumApps digital workplace software helps organizations break down communication silos to build stronger, more collaborative relationships between individual employees and departments. It integrates with today’s popular productivity suites, including G Suite and Office 365, to centralize access to all corporate content, business applications, and social features.
LumApps clients include Airbus, Motorola, Veolia, Valeo, Air Liquide, Colgate-Palmolive, The Economist, Schibsted, EA, Toto, Japan Airlines, Intuit, Electronic Arts, and Google Cloud.