A Chicago startup that helps e-commerce brands launch physical retail stores has raised some seed funding to expand to more cities.
Leap announced Thursday that it has raised a $3 million round led by Palo Alto-based Costanoa Ventures. Other backers include Equal Ventures and Brand Foundry Ventures.
Launched just this year, Leap offers what it calls a "retail-as-a-service" platform for digital brands. It helps with everything from lease execution to design to staffing, allowing brands to launch brick-and-mortar stores more efficiently.
Leap also announced its first store opening in Chicago for Koio, an Italian leather sneaker brand.
Along with helping brands build out and design their retail shops, Leap also handles technology needs like mobile checkout, virtual in-store shopping, and the ability to buy online and return in any Leap store---regardless of brand.
The startup said it plans to use the funding to expand to more cities in 2019.
"Brands that have physical stores perform better when it comes to local brand awareness, customer engagement, and overall sales," Amish Tolia, Co-CEO of Leap, said in a statement. "A modern growth strategy has to include a smart retail presence."
Many of today's top online brands have a brick-and-mortar presence. Glasses retailer Warby Parker has more than 80 stores, including four in Chicago. Other digital-first brands like Casper, Bonobos and Glossier have invested heavily in physical stores.
