Leap, a leading platform for physical retail, announced a $20 million funding round. Tribeca Venture Partners and DNX Ventures and existing investors joined the funding round.
This round of funding will be used to expand Leap’s store network and enhance its retail operations while enabling further investment into its platform technology and data analytics capabilities. Leap operates over 100 stores in 12 U.S. markets for leading brands such as Grown Brilliance, Ring Concierge, Godiva, and Malbon Golf.
Leap also announced the appointment of Karen Katz, former President and CEO of the Neiman Marcus Group, to its board of directors. Katz spent 33 years at the Neiman Marcus Group, including eight years as CEO. During Katz’s tenure, she grew the company’s digital presence and helped launch its omnichannel strategy while also leading the acquisition of German e-tailer MyTheresa. Karen serves as Chairperson of the Board of The RealReal and has been a Board Member of Under Armour for over 10 years.
KEY QUOTES:
“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.”
“This capital infusion will enable us to accelerate our growth and enhance our operations and technology as we continue to onboard premium brands and strengthen our fleet across markets. And we’re thrilled to welcome Karen to our board of directors, whose deep luxury and retail experience will undoubtedly help propel us further towards our vision and support the growth of our platform and our brands.”
- Amish Tolia, co-founder and CEO at Leap
