Goldman Sachs, BPI France et al. back $70m round for LumApps

Taking part in the round were new investor Goldman Sachs Growth, as well as BPI France, Idinvest Partners, Iris Capital and Famille C (Courtin-Clarins' family office).

BPI France has invested via its €600m Large Venture fund, closed in 2013.

LumApps will use the new funds to accelerate R&D investment, with a particular focus on artificial intelligence and machine learning; expand internationally, in Canada, the Asia-Pacific region and Germany; foster recruitment efforts; and complete external acquisitions.

Previous founding
LumApps raised $8m in a series-A funding round led by Idinvest Partners in October 2017. The VC then led a $24m series-B funding round for the business in April last year.

Company
Founded in 2012 and based in Paris, LumApps is a social and collaborative intranet platform for employees. It aims at breaking down silos and streamlining internal communication.

Some of its clients include Airbus, Intuit, Electronic Arts, Colgate-Palmolive, Motorola, Logitech, Valeo, Japan Airlines and Google Cloud. The business wants to hire an additional 150 employees in 2020. 

People
LumApps – Sébastien Ricard (CEO).
Goldman Sachs – Christian Resch (managing director Goldman Sachs Growth).

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• Topics
• Expansion
• France
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• France
• Goldman Sachs
• BPI France