A big day
You can find the full press release here.
We are proud to have successfully raised this round in a challenging economic environment.
This success demonstrates the remarkable strength of LeapXpert’s fundamentals and highlights the urgency and importance of the problem we solve: allowing businesses to better communicate externally.
We founded LeapXpert back in 2017 and launched our first product in 2019 in response to the growing use of consumer messaging apps in enterprises. Businesses were facing unprecedented and significant challenges in terms of controls, governance, security, and compliance. And those problems have only compounded since.
We recognized the need for a solution that would allow companies to use the most modern communication channels while meeting enterprise needs, regulatory requirements, and protecting sensitive information.
More than two billion people use various messaging apps every day because they offer a compelling way to communicate – it’s fast, cheap, reliable, intuitive, and enjoyable. The lines between work and personal communication have quickly become blurred as people use messaging apps in all aspects of their lives. With consumers expecting to communicate with businesses using the apps of their choice, businesses must adapt or be left behind.
That’s where we come in.
2022, a record year
This funding round comes on the heels of an unprecedented year for LeapXpert:
- We grew our customer base and revenues by hundreds of percent.
- We more than doubled our team size (and will continue to grow to meet the market’s needs).
- We opened several new offices worldwide.
- We grew our partner ecosystem to include the likes of Blackberry, OpenFin, SteelEye, Shield, BEHAVOX, and many others.
- We were recognized by multiple innovation awards including Microsoft Partner of the Year, Best Compliance Product by UC Awards, Banking Tech, RegTech Insight USA from A-Team group, among others.
All these achievements show the significant demand for our product and the impact it is having on our customers’ businesses. We are in a good position to provide better support to our customers, improve our product offering, and expand into new markets.
Our solution is especially important now, as regulators are cracking down harder than ever. In 2022, regulators handed out $1.8B in fines to leading financial institutions for failing to comply with communication recordkeeping requirements.
And that’s not all. In the US, actions are making their way to regional banks, Private Equity, Hedge Funds, Commodities, and even smaller RIAs. We are seeing the same dynamic play out across small and large firms in Europe and Asia. Regulators are increasingly focused on ensuring that firms comply with communication recordkeeping requirements, and non-compliance will likely result in significant fines and penalties in European countries too.
And while we can, of course, help customers avoid these penalties, our main goal is so much more. We help companies focus on priorities above and beyond compliance – responsible communications builds trust with customers, ensures transparency, and safeguards sensitive information.
Unfortunately, responsible communication is not the norm today especially as many frontline employees use their own devices and messaging apps to conduct business externally. This creates a “wild west” of communication channels, and many companies have simply lost visibility of critical business data. And without visibility, there can be no data retention, control, or security.
Sure, by adopting The LeapXpert Communications Platform, enterprises can demonstrate their seriousness to regulators. But the platform allows them to do even more. By showing their commitment to responsible business communication, companies can ultimately build stronger relationships with their clients and employees and bolster their brand.
As we look to the future, it will be increasingly important for organizations to monitor and control communications and data exchanged over messaging and voice channels.
Beyond Finserv, this is particularly relevant in the worlds of Healthcare, Law, Insurance, other regulated industries, as well as large enterprises of any kind.
We aim to be the global leader in Responsible Business Communication by enabling enterprises to embrace The LeapXpert Communications Platform.
Our platform is the only enterprise-grade, unified solution allowing companies to effectively and responsibly use, capture, and archive voice, SMS, and consumer messaging channels in accordance with regulations.
LeapXpert makes it easy for enterprise employees to communicate with clients more effectively and responsibly than ever before. Each employee receives a single phone number identity – one work phone number that they can use across all voice and messaging applications. This means that no matter how a client chooses to contact a corporate employee – whether it be through phone, text message, or any other messaging app – only one phone number is involved.
With the support of our investors, we plan to build out and improve the platform in order to increase our product offerings, as well as expand our business and customer success teams to accelerate growth and innovation.
We believe that the stronger the ecosystem, the better the outcomes for our customers. Therefore, we will also continue to work closely with strategic partners to identify new channels, regions, and use cases for our product, and attract new partners as well.
Ultimately, we will become the go-to solution for any company interested in taking a leap into the future by upgrading their communication capabilities without compromising on enterprise controls.
This infusion of capital enables us to provide our customers with exceptional and innovative technological solutions that bring them peace of mind.
We would like to thank both our new and existing investors for their trust in our company.
A special welcome to Rockefeller Asset Management and to Christopher J. Randazzo, Managing Partner, who has joined our Board of Directors.
Chris stated that “LeapXpert is a market and innovation leader that has gained broad traction and validation in the financial services industry, as they expand their offering and their reach globally.” Having the support of Rockefeller and the ability to work closely with Chris and his team means the world to us.
A warm welcome also to Uncorrelated Ventures, founded by Salil Deshpande with Bain’s backing, The Partnership Fund for New York City, and our new strategic investor (who is also our marquee customer).
We would like to take a moment to personally thank our fellow LeapXpert employees for their exceptional contribution to the company:
Each and every one of you has played an instrumental role in making this company what it is today. Thanks to your hard work, dedication, and expertise, we have been able to grow our business and delight our customers. Your commitment to excellence has been truly inspiring, and it is because of you that we are able to deliver exceptional service and achieve our goals, and attract the confidence of investors, which will enable us to continue growing.
Speaking of people, we are currently recruiting globally, so please contact us to learn about current opportunities to join the team!
SUBSCRIBE TO OUR NEWSLETTER
Useful tips and helpful information.
You can unsubscribe at any time - obviously!