A US $ 15 million capital infusion has been secured by Leap, a retail platform that assists DTC businesses in entering brick-and-mortar retail, according to a corporate announcement.
Current investors BAM Elevate and Costanoa Ventures led the investment round, which also included Equal Ventures, Hyde Park Ventures, and other investors.
Leap claimed in its release that the additional capital would hasten the company’s road to profitability, increase platform capabilities, and promote growth with both current and new companies.
Since securing US $ 50 million in Series B financing in January 2022, Leap’s network size has increased by a factor of two. Over 55 labels, including Frankies Bikinis, M.M.LaFleur, Public Rec, Mack Weldon, and ThirdLove, have storefronts that the company has pushed to create. Others have recently opened their first stores with Leap, including Brumate, Nisolo, and True Classic, while Freedom Moses opened a pop-up shop in New York City with Leap earlier this year.
“Now more than ever, brands want immersive retail stores to connect with high value customers directly,” Amish Tolia, co-founder and CEO at Leap, said in a statement.
