LeapXpert, the responsible business communication pioneer, today announced a $22 million Series A+ funding round led by Rockefeller Asset Management through its Technology Ventures Group. The round was joined by Uncorrelated Ventures, the Partnership Fund for New York City, a new strategic investor, and existing investors.
Increasingly, clients expect to use WhatsApp, iMessage, SMS, WeChat, and other such channels to conduct business, thereby creating a conflict within the compliance and privacy policies of financial institutions and enterprises. Recent regulatory enforcement actions have levied substantial fines and settlements for employees’ use of unapproved and unmonitored messaging channels.
A soon-to-be-released LeapXpert survey found that messaging apps are almost universally used for business by financial firms of all types. However, the compliance technology to regulate them is just now in the process of being adopted.
The LeapXpert Communications Platform is the first comprehensive communication and compliance solution for enterprises that successfully reconciles extremely flexible client communication with recordkeeping compliance, adherence to information security, and data governance.
Using LeapXpert, companies provide their employees a single corporate identity for business communication through iMessage, WhatsApp, SMS, Telegram, WeChat, Signal, LINE, and voice calls. All employees’ business communication can be recorded while their personal messages remain private. Meanwhile, clients communicate natively on their preferred messaging app. The platform also integrates natively with Microsoft Teams, enabling employees to communicate compliantly with clients on the messaging app of their choice from within Microsoft Teams.
“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,” said Christopher J. Randazzo, Managing Partner of Rockefeller Asset Management’s Technology Ventures Group, who has joined the LeapXpert board of directors. “In a post pandemic world, connecting with clients through their preferred communication channels has become a business mandate. Financial institutions, in particular, have accelerated their digital transformation to meet the increasing regulatory requirements related to communication.”
LeapXpert will use this new round of funding to meet increasing demand from the financial services industry, accelerate penetration into other industry verticals, and grow its partnership network. The company will continue developing The LeapXpert Communications Platform, add more vertical modules, enhance its voice offering, launch a new public SaaS solution, and roll out additional integrations to improve its current technologies.
“Of course, customers should be able to use iMessage, WhatsApp, SMS, Signal, Telegram, WeChat, or whatever to interact with their service providers,” said Salil Deshpande, Founder and General Partner at Uncorrelated Ventures. “And financial institutions and other service providers should be able to communicate with those customers using Slack, Teams, or whatever else, while still respecting security, compliance, regulations, and governance. LeapXpert is really the only solution.”
“The Partnership Fund is excited to support LeapXpert, a 2022 graduate of the FinTech Innovation Lab, as it continues to solve a prominent pain point for financial institutions looking to improve customer engagement while maintaining regulatory compliance standards. We welcome their recent relocation of its headquarters to New York City, and look forward to seeing their continued growth and impact on the local fintech ecosystem, deepening New York’s footprint as a world-class hub for innovation in financial services,” added Maria Gotsch, President and CEO of the Partnership Fund for New York City.
The funding continues the positive momentum for LeapXpert, which experienced 3x YoY growth in recent years. The platform is now a preferred communication channel for many of the world’s largest financial institutions, whose employees use it on a daily basis.
“Today marks a significant milestone for LeapXpert’s growth journey,” said Dima Gutzeit, Founder and CEO of LeapXpert. “As we look to further enhance our product offering and grow our reach in the United States, we are excited to partner with Rockefeller Asset Management, Uncorrelated Ventures, Partnership Fund for New York City, and a new strategic investor. Our goal is to set the global standard for responsible and flexible employee-customer communications, and with this funding, we are one step closer to achieving our vision.”
This announcement from LeapXpert comes just several months after the launch of the company’s next generation platform featuring voice call support, six months after introducing the first Microsoft Teams integration for compliant messaging, a year since the unveiling of an industry-first iMessage communication capture solution, and 17 months since the company’s Series A.
LeapXpert, the responsible business communication pioneer, provides enterprises peace of mind through compliant and secure communication solutions. The LeapXpert Communications Platform is an enterprise solution that enables employees and clients to communicate on consumer messaging applications and voice channels in a compliant, governed, and secure manner. Founded in 2017, the award-winning company is headquartered in New York, with offices in the UK, Israel, and Asia. For more information on LeapXpert, visit https://leap.expert.
About Rockefeller Asset Management
Rockefeller Asset Management, a division of Rockefeller Capital Management, offers a wide variety of equity and fixed income strategies, including private capital. The firm’s Technolo1gy Ventures group seeks to identify and partner with visionary founders in financial technology and enterprise software. Rockefeller Capital Management is an independent, privately-owned financial services firm. The firm offers family office, asset management, and strategic advisory services to high-net-worth individuals and families, institutions, and corporations. Rockefeller Capital Management is headquartered in New York City and has over 40 offices in the US as well as an office in London. As of December 31, 2022, the Rockefeller Capital Management was responsible for approximately $110+ billion in client assets.
About Uncorrelated Ventures
Uncorrelated Ventures was founded by Salil Deshpande with Bain’s backing to focus on infrastructure software, both traditional and decentralized. Over 17 years Salil invested $500M+ into 50+ companies, usually super early, including traditional infrastructure such as Redis, DataStax, MuleSoft, DynaTrace, Quantum Metric, Sysdig, Buddy Media, SpringSource, Astranis, Astronomer, Pipe, Dropcam, Tealium, Sonatype, Frame, and Upgrade, and decentralized infrastructure such as Compound, Maker, Cosmos, CoinDCX, Helium and Crusoe Energy. Salil was on the inaugural Forbes Midas Seed List of 25 best-performing seed investors in 2022, Business Insider’s Seed 100 List of all-time best-performing seed investors in 2021 and 2022, and the Forbes Midas List of 100 best-performing venture investors worldwide in 2013, 2014, 2015, 2016, 2017, 2018, 2019 and 2022.
About Partnership Fund for New York City
The Partnership Fund for New York City is the $170 million investment arm of the Partnership for New York City, New York’s leading business organization. Its mission is to mobilize its investors’ resources — their money, time and influence — to create jobs, spur new business creation and to expand opportunities for all of the city’s residents and neighborhoods. The Fund invest exclusively in New York City-based ventures with an overall job creation priority. As an “evergreen” fund, realized gains are continuously reinvested.