Intelligent platform for physical retail Leap has secured $20 million in funding from Tribeca Venture Partners, DNX Ventures, and existing investors. The funds will support the expansion of the company’s store network, retail operations, and investments in platform technology and data analytics. Currently, Leap operates over 100 stores in 12 major U.S. markets for brands like Grown Brilliance, Godiva, and Malbon Golf.
Leap’s platform enables brands to deploy stores that work together with ecommerce more rapidly at reduced cost and risk. The platform brings modern brands to life with compelling, immersive customer experience and operations driven and informed by millions of data points.
The company also announced the addition of Karen Katz, former CEO of Neiman Marcus Group, to its board of directors. Katz, known for growing Neiman Marcus’s digital presence and omnichannel strategy, brings extensive experience, including board roles at The RealReal and Under Armour.
Amish Tolia, co-founder and CEO at Leap, said: “Brands continue to see the value in brick-and-mortar, as they strive to meet their customers with immersive shopping experiences in the markets where they already have a strong following and can build loyalty with newly acquired customers. Leap’s first-party data, economies of scale and shopper marketing file are significant benefits to modern brands that need the support to accelerate their omnichannel pursuits. Leap continues to enable brands to focus on what they do best – creating and marketing great products and serving their customer base while leveraging a data-driven platform to power their retail channel.”