Immersive retail platform Leap has announced its new $50 million in Series B funding to help accelerate its overall product development and expand its network of store locations across the country. This round of funding was led by BAM Elevate with additional participation from Harbor Spring Capital, Northern Trust, Simon, Costanoa Ventures, Hyde Park Venture Partners and Equal Ventures.
“Modern brands require omnichannel solutions to connect with customers meaningfully and consistently across channels. Our platform enables brands to activate retail locations with speed and data-driven decisions which minimizes risk, upfront costs and lease liabilities,” said Amish Tolia, co-founder and co-CEO at Leap.
“It’s such an exciting time for retail. More than 500 brands have registered with us, and we have barely scratched the surface. This new capital will enable us to make significant investments into our technology for enabling omnichannel and to scale even more rapidly.”
In the past year, Leap’s platform has experienced massive growth. In 2021 alone, the company expanded its roster of stores and total sales by nearly 400 percent, now serving 30 brands located in eight diverse markets.
The platform is designed to help brands quickly set up modern retail stores that work in unison with e-commerce sites.
Leap’s all-in-one platform helps brands discover premium store locations, properly staff their locations with a team of world class employees, assist with leasing, and analyze their data insights. For high growth brands, the combination of optimized store locations and ecommerce selling can help acquire new customers and sales leads, reduce risk and cost, and cultivate better insights.
In the past year, Leap has enabled a number of fast-growing brands such as Naadam, Something Navy, ThirdLove, Mack Weldon, Lunya, Birdies, and Ring Concierge with the tools necessary to launch new locations in major markets around the country. As the company continues to expand, it grows market share in new industries such as apparel, footwear, accessories, jewelry, and home goods.
“Brands can now leverage Leap’s proprietary data, systems and scale to rapidly create or grow an omnichannel physical retail presence, which has never been more important,” said JP Van Arsdale, BAM Elevate General Partner.
“We’re excited to see so many world class brands choosing to deploy and scale on the Leap Platform.”