2023-24
Lumos Impact Report

In 2023-2024, we continued our commitment to supporting impactful and innovative companies that provide high-quality, accessible education and training opportunities that ensure a more prosperous and inclusive future for all.

Download the impact report

We partner with entrepreneurs across the human capital development sector toward a common goal of building educational access, capacity and outcomes through innovation. We work hand in hand with our companies to grow both their businesses and the impact they have on the stakeholders they serve.

Read more about our approach in our Annual Impact Report.

Lumos Impact Framework

Our approach to impact starts by gaining a deep understanding of industry dynamics, and continues through post-investment measurement and reporting.

Assess Landscape

We evaluate the structural dynamics of every segment we invest in

Invest in Quality, Access & Equity

We approach investing with a focus on achieving three key objectives: quality, access and equity

Measure Impact

We track metrics specific to each company through their respective journeys

Our Investment Process

We utilize various frameworks and tools that embed impact into every step of our investment process:

Sourcing

We take a dynamic approach to sourcing, including thematic market assessments and a systematic approach to building our network. We seek out mission-oriented founders from a diversity of backgrounds. We focus on proprietary opportunities aligned with broader impact theses and market trends.

Diligence

Our diligence process is designed to deepen our understanding of the prospective company’s thesis to improve outcomes for students and educators, which we assess alongside the company’s business model. We put a premium on services that benefit marginalized and disadvantaged communities, and look to uncover opportunities to more deeply embed accessibility and outcomes into the product or service. We seek out rigorously produced, ideally research-backed and data-centric analyses to inform our investment decisions.

Investment

We formalize accountability with portfolio companies through explicit conversations with CEOs and impact side letters or other legal documentation. We always ideate and co-create the appropriate accountability with CEOs as Lumos may be the first investor to ask for this accountability around impact.

Portfolio Support

We engage management teams in regular dialogue on impact priorities as the business scales. Lumos has developed a playbook for supporting portfolio companies that includes specific impact-related levers. For example, for talent needs, we support our companies with recruiting channels that source candidates from traditionally underrepresented groups. Similarly for follow-on financing, we introduce to our portfolio companies debt and equity investors from our network of impact-oriented capital providers.

Exit

In partnership with our founders, Lumos builds relationships with impact aligned strategic and financial partners, and serves as a point of accountability at the board level in considering potential exit opportunities that serve our stakeholders.

Across the Portfolio

High Level View

~ 5.6M

Learners globally

Our portfolio supports over 5.6 million learners worldwide through B2B, B2C, B2G, and B2B2C business models. These models enhance access and improve outcomes, particularly for low-income, minority, and disadvantaged populations, utilizing freemium models, third-party payer arrangements, and partnerships, among other strategies.

70,000+

Career Outcomes

A career outcome is achieved when an active user of a portfolio company credits the company with having helped them positively in their career trajectory. This could include any of the following ways: securing a new job, internship, apprenticeship, landing a new job as a result of internal mobility, starting a new business, mastering a necessary skill, graduating from a skills training program, or getting a new job title and/or a salary increase.

192

Countries

23

Lanuages

Through free and paid products and services, our companies bridge gaps for learners in all 192 countries, through multiple languages, including English, French, Spanish, Hindi, Arabic, Portuguese, Dutch, and German.