Beekeeper and LumApps merge to form a European unicorn

(CONNECT) Beekeeper and LumApps, which specializes in AI-supported intranet solutions for office teams, have merged. The combined company offers an AI-supported all-in-one platform for employee productivity and communication in the office and operational areas. According to a press release, the merger opens up opportunities for cross-selling, scaled distribution and accelerated innovation. "The transaction values the combined company at over 1 billion US dollars," according to the announcement. This gives it the status of a so-called unicorn.

The combined company will serve 7 million users with over 2000 customers and generate 150 million dollars a year in recurring revenues. With an addressable market of 10 billion dollars, which is growing by 15 percent annually, the company aims to reach a total of 100 million users by 2030. 

"Beekeeper has created a groundbreaking platform for operational employees that increases engagement and productivity," said Sébastien Ricard, CEO and co-founder of LumApps. "Together, LumApps and Beekeeper will support all employees worldwide in this new world of work. I am delighted to welcome the Beekeeper team to the LumApps family."

Beekeeper was founded in 2012 as a spin-off of the Swiss Federal Institute of Technology in Zurich(ETH) and focuses on mobile solutions for operational employees in sectors such as industry, retail and construction. ce/yes