# Leap Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/leap-technologies

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.leapfin.com
- Total disclosed funding: $15M
- Latest round: Series A (Apr 29, 2022)
- Investors on record: 4

## About

Leap Technologies, Inc. offers innovative accounting automation software that streamlines financial processes, enhancing efficiency in revenue reporting and data reconciliation for businesses.Founded in 2015 in San Francisco, US, Leap Technologies, Inc. specializes in automating financial closure processes. The company was co-founded by Erik Yao and Raymond Lau, who also serves as CEO. In May 2023, Leap Technologies raised USD 5.22 mn in Series A funding, bringing the total amount raised to USD 5.22 mn, with a current company valuation of USD 49.93 mn.Leapfin specializes in accounting automation software designed to streamline the financial closing process by consolidating and standardizing transaction data. The software offers robust features that automate revenue reporting and data reconciliation, significantly reducing the time required for month-end closes—transforming a process that traditionally took up to 90 days into one that can be completed in just 5 days. Leapfin's solutions cater to businesses experiencing rapid growth and complexity in their financial operations, assisting them in effectively managing large volumes of transactions and providing valuable insights into revenue trends. The platform is particularly beneficial for finance teams in various industries, including technology and e-commerce, enabling clients to easily track financial metrics such as refunds and month-to-month revenue fluctuations. Leapfin serves a global market, targeting clients across North America and Europe, focusing on mid-sized to large enterprises that require sophisticated accounting solutions.The revenue model for Leapfin revolves around subscription-based pricing for its accounting automation software, allowing clients to access and utilize its features based on their specific needs. Customers engage with Leapfin through a subscription model that provides ongoing access to the platform, enabling them to consolidate their transaction data and streamline revenue reporting seamlessly. The structure of transactions typically involves businesses subscribing to the software on an annual or monthly basis, with tiered pricing based on the volume of transactions processed or additional features required. Leapfin’s flagship offerings include advanced reporting tools and subledger capabilities, which cater to clients' needs for accuracy and efficiency in financial management. The software is designed to support a variety of client engagements, focusing primarily on B2B relationships with enterprises that require comprehensive accounting solutions.In May 2023, Leap Technologies, Inc. raised USD 5.22 mn in Series A funding, which will be utilized to expand product development, as well as accelerate sales and marketing hires to meet market demand. The company is focused on developing new products to enhance its accounting automation capabilities and plans to expand into new markets across North America and Europe by the end of 2024.

## Funding rounds

- Series A, Apr 29, 2022, $12M — Crosslink Capital, Work-Bench, Uncorrelated Ventures
- Seed, Aug 24, 2020, $3M — Work-Bench, Function Collective, Inc.

## Investors

- Work-Bench — Seed, Series A
- Function Collective, Inc. (https://capitalatlas.ai/funds/function-collective-inc) — Seed
- Crosslink Capital (https://capitalatlas.ai/funds/crosslink-capital) — Series A
- Uncorrelated Ventures (https://capitalatlas.ai/funds/uncorrelated-ventures) — Series A