EDGE
Get a demo
Log In
All Updates

All Updates

icon
Filter
M&A
Bridgepoint acquires majority stake in LumApps to expand AI solutions
Remote Work Infrastructure
May 28, 2024
This week:
Product updates
Stability AI launches Stable Diffusion 3 Medium, a text-to-image model
Foundation Models
Yesterday
Product updates
Microsoft discontinues GPT Builder in Copilot
Generative AI Applications
Yesterday
Funding
BlinqIO raises USD 5 million in funding to expand operations
Generative AI Applications
Yesterday
Product updates
Databricks launches innovations to Mosaic AI for production-quality applications
Generative AI Infrastructure
Yesterday
M&A
Rebellions and Sapeon Korea merge to challenge global AI chip leader
Generative AI Infrastructure
Yesterday
M&A
Pluxee to acquire Cobee; expands employee benefits offering
Remote Work Infrastructure
Yesterday
Product updates
Space and Time launches 'Proof of SQL' solution on GitHub
Enterprise Blockchain Solutions
Yesterday
Partnerships
Lido partners with Mellow Finance to launch liquid restaking vaults
Decentralized Finance (DeFi)
Yesterday
Funding
Rivia raises EUR 3 million in seed funding
Clinical Trial Technology
Yesterday
Partnerships
Product updates
Databricks and Shutterstock collaborate to launch enterprise-optimized ImageAI model
Generative AI Infrastructure
Yesterday
Remote Work Infrastructure

Remote Work Infrastructure

May 28, 2024

Bridgepoint acquires majority stake in LumApps to expand AI solutions

M&A

  • Bridgepoint has acquired a majority stake in LumApps, a social intranet platform that provides a digital workplace for internal communication, for USD 650 million. Despite this change, LumApps' founders and senior management will remain with the company. The transaction is set to close in July 2024.

  • With the new funds, LumApps plans to pursue more M&A activities and expand its AI capabilities, focusing on developing a GenAI companion and micro-learning solutions.

  • This strategic investment will see LumApps' existing investors, including Goldman Sachs, Eurazeo, Bpifrance, and IRIS, selling their stakes. Previously valued at USD 255 million, LumApps' last funding round was in 2020 for USD 70 million. 

  • Analyst Quicktake: This is a significant milestone for LumApps, valued at USD 255 million following a USD 70 million funding round in January 2020. The company has integrated AI into its platform, providing services like AI-based search, recommendations, and multilingual translation.

Contact us

Gain access to all industry hubs, market maps, research tools, and more
Get a demo
arrow
menuarrow

By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.