Series B financing sets stage for accelerated growth and market leadership as the company aims to reach $100 Million in ARR
LumApps, the leading social intranet for the enterprise, announced it has closed a $24 Million funding round led by Idinvest. The new capital will be used to scale global sales and marketing and accelerate product innovation for the LumApps digital workplace suite.
“When we first met the LumApps team, we immediately knew they were poised to become the leader in internal communications and collaboration,” said Alban Wyniecki, Investment Director at Idinvest. “Everything from their digital workplace suite to the company’s leadership and its technical team is unmatched. We are thrilled to have LumApps join our portfolio and look forward to playing a part in the company’s mission to provide the premier social experience inside and outside the enterprise.”
Read More: iovox Debuts Mobile-First Call Tracking Integration with Zoho CRM
LumApps is a social and collaborative intranet, designed to inform and engage employees. The solution integrates with both G Suite, Microsoft Office 365 and Microsoft Sharepoint. Accessible anytime, anywhere via mobile, the LumApps intranet serves as a central hub for personalized content, social communications, work tools and applications.
The funding comes on the heels of significant momentum, marked by rapid growth. In 2018, LumApps continued to build its international presence with new offices and talent across the United States, Europe, Japan and Pacific-Asia. LumApps also more than doubled its customer base with the addition of EA, G4S, Peach Aviation, Verizon Media (formerly Oath) to its growing roster.
Read More: Series A: Limitless Technology Raises £5 Million to Take AI Powered Crowd-Sourcing Platform Global
“Over the past year, we experienced tremendous growth with new companies across the globe adopting LumApps as their central hub for all internal and external communications,” said Sébastien Ricard, Founder and CEO of LumApps. “This new investment will help us extend our leadership position by taking our go-to-market plans to new heights and will help drive product innovation so our customers can help their employees be more productive than ever.”
Additionally, LumApps is announcing that Etienne Droit (former EVP Sales at 3DS) and Damien Neyret (CEO of Letsignit) will be joining the company’s board of directors.
“We are excited that Etienne and Damien are joining our board,” Lionel Grivel, co-founder and COO of LumApps. “Their combined expertise in the software editor space, most notably Microsoft, will be invaluable as we pursue our ambitious goal of becoming the global leader in enterprise communications and collaboration.”
Read More: BrainSell Adopts New Sales Methodology Guided by Sales Leadership Expert, Lisa McLeod