Cloud-based social intranet enterprise, LumApps, has recently closed a funding of $70M in Series C funding. Goldman Sachs is leading the round with participation from Bpifrancde via its Growth Fund Large Venture.
Other participants include Idinvest Partners, Iris Capital, and Famille C (the family office of Courtin-Clarins). The round raised a total of $ 100 million approximately.
Founded in Paris back in 2012, LumApps developed what is described as a ‘social intranet’ for enterprises to enable employees to be better informed, connect, and collaborate. The SaaS integrates with enterprise software such as Microsoft Office 365, G-Suite, and Microsoft Share Point to centralize access to corporate content, business applications, and social features under a single platform.
“Our dream was to enable access to useful information in one click, from one place, and for everyone,” said Sebastian Ricard, Founder and CEO of LumApps. “We wanted to build a solution that bridged [an] intranet and social network, with the latest new technologies. A place that users will love.”
Since then, LumApps have opened several new offices worldwide-Lyon, Paris, New York, London, San Francisco, and Tokyo. Amped with additional funding, the company will continue adding significant human resources across product, engineering, sales, and marketing. There are also ongoing plans for expansion to Canada, Germany, and Asia Pacific.
When posed what AI could bring on the social intranet, Ricard says LumApps has the vision to make personal assistant communication and workflows in enterprises. Ricard also feels that AI will play a significant role in high data security. “Employees have a high degree of control concerning data sharing, and AI can help manage what employees can share in the workplace. This is more long-term, but it’s where we’re headed,” he says.
Meanwhile, LumApps says that it may also use a part of the Series C funding for M and amp;A activity.