NEW YORK and CHICAGO, June 21, 2023 — Leap, the retail platform for contemporary labels, revealed a USD 15 million capital infusion. With participation from Equal Ventures, Hyde Park Ventures, and other investors, this financing was co-led by existing backers BAM Elevate and Costanoa Ventures. With the help of this capital, the business will be able to expand through the use of both current and new brands, improve platform functionality, and quicken its road to profitability.
Since the platform’s Series B fundraising in January 2022, The Leap platform, which opens and manages insight-driven retail outlets, has doubled its network size and income. More than 50 brands currently use the Leap Platform to power over 100 locations in 11 markets. While Brumate, Nisolo, and True Classic recently opened their first stores with Leap, brands like Frankies Bikinis, M.M.LaFleur, Public Rec, and SET are expanding their store count on the platform. Leap will keep concentrating its expenditures on boosting site density in dynamic markets, providing brands that use the platform with impactful scale and efficiencies.
According to Amish Tolia, co-founder and CEO of Leap, “Brands want immersive retail stores to connect with high-value customers directly now more than ever.” “As Leap expands, our first-party data and operational efficiencies compound, giving both brands and landlords benefits that the traditional in-house retail model can’t provide,” the company claims.
As we move forward in our expansion, the Leap platform makes sense for us, according to Public Rec’s founder and CEO Zach Goldstein. “As our eCommerce business grows, we turned to Leap to establish and manage our retail fleet. Now, we receive thousands of high-value customers each month from our Leap-powered retailers.
Using data, technology, and scale, Leap is creating the world’s most incredible network of branded retail outlets. Brands can deploy storefronts that function in tandem with e-commerce more quickly, more affordably, and with lower risk thanks to Leap’s platform. With an engaging, immersive customer experience and operations that are fueled and influenced by millions of data points, brand stores powered by Leap bring contemporary brands to life.
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