Highlights:

  • LumApps offers an intranet platform that organizations use to share information with employees. Each worker utilizing the application’s interface receives access to a personalized news feed that displays company announcements and other updates.
  • LumApps stated that the recent investment from Bridgepoint will enable it to expand the feature set of its platform into new areas. The development focus will prioritize micro-learning and artificial intelligence.

Private equity firm Bridgepoint has agreed to acquire a majority stake in LumApps SAS, a French startup known for its internet platform that serves around 5 million workers.

The Bridgepoint LumApps deal was recently announced and valued at USD 650 million. LumApps had previously secured over USD 100 million in funding from institutional investors. Four investors—Goldman Sachs, Eurazeo Growth, Bpifrance, and IRIS—will sell their stakes to Bridgepoint as part of the transaction.

LumApps offers an intranet platform that organizations use to share information with employees. Each worker utilizing the application’s interface receives access to a personalized news feed that displays company announcements and other updates. Marketing teams can utilize a built-in analytics tool to identify which posts resonate most with staff members.

In addition to viewing company content on LumApps, workers can create their posts. As part of its feature set, the platform enables the creation of department-specific hubs for sharing information. Employees can also provide feedback to their colleagues and collaborate on sharing business documents and other files.

Additionally, the platform offers a variety of other features. An automation tool is also available, aiming to streamline the onboarding process for new hires. Moreover, a micro-learning module enables companies to disseminate employee training content.

LumApps stated that the recent investment from Bridgepoint will enable it to expand the feature set of its platform into new areas. The development focus will prioritize micro-learning and artificial intelligence.

LumApps has already integrated several AI capabilities into its platform. Those functionalities empower users to condense business documents and create visuals for marketing materials automatically. Furthermore, the integrated search bar utilizes machine learning to tailor results individually for each user.

Concurrently with the drive for new product development, LumApps intends to broaden its international footprint. The focus will be on expanding its market presence in the U.S., where LumApps aims to grow its market share. The company serves approximately 700 organizations, including industry leaders like Airbus SE, publicly traded food delivery company Just Eat Takeaway.com NV and other major enterprises.

Sébastien Ricard, Chief Executive Officer, said, “This strategic partnership with Bridgepoint represents a logical and significant step in LumApps’ growth trajectory, following our successful Series A, B, and C rounds and achieving profitable growth. As we enter this next phase, we are poised to accelerate our growth and innovation across key areas of our business.”

Despite several institutional backers selling their stakes in the transaction, LumApps emphasized that its founders and leadership team will remain “strongly invested” in the company’s vision and continued success. The company expects Bridgepoint’s investment to close in July. The company anticipates that Bridgepoint’s investment will be finalized in July.