Retail Platform Leap Raises $20 Million, Demonstrates Profitability & Adds Karen Katz to Board

NEW YORK, Jan. 17, 2025 /PRNewswire/ -- Leap, the leading platform for physical retail, announced a $20 million financing as it demonstrates profitability. Tribeca Venture Partners and DNX Ventures, along with existing investors, participated in the fundraise. The funding will be used to expand Leap's network of stores, enhance its retail operations and enable further investment into its platform technology and data analytics capabilities. Leap currently operates more than 100 stores in 12 Tier One U.S. markets for leading brands like Grown Brilliance, Ring Concierge, Godiva and Malbon Golf.

Leap is also pleased to announce the appointment of Karen Katz, former President and Chief Executive Officer of the Neiman Marcus Group, to its board of directors. Karen spent 33 years at the Neiman Marcus Group, including eight years as CEO. During her 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 currently serves as Chairperson of the Board of The RealReal and has been a Board Member of Under Armour for more than 10 years, among other board positions.

"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," said Amish Tolia, co-founder and CEO at Leap. "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."

Tolia continued, "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."

About Leap
Leap is building the world's largest network of branded retail stores – powered by data, technology, and scale. Leap's platform enables brands to deploy stores that work in concert with ecommerce more rapidly at reduced cost and risk. Brand stores powered by Leap bring modern brands to life with compelling, immersive customer experience and operations driven and informed by millions of data points.

Learn more about Leap's platform, and brand stores powered by Leap, at http://leapinc.com.

Contact:
Scott Cianciulli
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SOURCE Leap