Leap, a leading platform for physical retail, announced it has raised $20 million in funding to accelerate growth and enhance its operations. The financing round, led by Tribeca Venture Partners and DNX Ventures, with participation from existing investors, will support Leap’s network expansion, technology development, and data analytics capabilities.
Currently operating over 100 stores in 12 Tier 1 U.S. markets, Leap powers brick-and-mortar retail for renowned brands such as Grown Brilliance, Ring Concierge, Godiva, and Malbon Golf.
New Leadership and Expertise
As part of the announcement, Leap welcomed Karen Katz, former CEO of the Neiman Marcus Group, to its board of directors. Katz brings decades of retail expertise, having expanded Neiman Marcus’s digital footprint and spearheaded its omnichannel strategy. Her leadership includes notable roles as Chairperson of The RealReal and a long-standing Board Member of Under Armour.
The Enduring Value of Brick-and-Mortar
According to Amish Tolia, Leap’s co-founder and CEO, physical stores remain pivotal in delivering immersive shopping experiences that foster brand loyalty and engage new customers.
“Leap’s first-party data, economies of scale, and shopper marketing capabilities are invaluable for modern brands navigating the complexities of omnichannel retail,” said Tolia. “We empower brands to focus on their core strengths while leveraging our platform to streamline and optimize their retail operations.”
Strategic Expansion Plans
The new funding will drive Leap’s efforts to:
- Expand its store network in high-demand markets.
- Enhance platform technology and analytics to provide actionable insights for brands.
- Strengthen its operational infrastructure to support scalability.
Leap’s platform enables brands to efficiently establish and manage physical retail stores, leveraging data-driven insights to optimize performance and integrate seamlessly into broader omnichannel strategies.
With profitability demonstrated and a clear vision for growth, Leap is poised to continue redefining the role of physical retail in a digitally integrated world.
