The investment will allow LumApps to make acquisitions and scale its business. The company already works with large enterprises such as Airbus, Publicis Sapient, and Groupe Lafayette, and has a strong international business with customers based outside of France. LumApps has been making acquisitions already, most recently acquiring Teach on Mars to bring in learning more natively to its platform. The company also plans to invest more in the concept of a “generative AI companion” and micro-learning.
Key takeaways:
- French startup LumApps, an "intranet superapp", has announced that private equity firm Bridgepoint is taking a majority stake in the company in a deal valued at $650 million.
- All of LumApps’ existing outside investors, including Goldman Sachs, Eurazeo, Bpifrance, and IRIS, are expected to sell their stakes in the company.
- LumApps’ founders and senior management will remain on board and retain stakes in the business. The transaction is expected to close in July 2024.
- The investment will allow LumApps to make acquisitions and scale its business, with a focus on building out an AI-powered personal assistant and micro-learning.