What is Leap?
Leap operates as the leading global platform for integrating flexible energy resources into worldwide electricity markets. The company provides the grid with zero-carbon, price-competitive alternatives to fossil-fueled power plants by aggregating partner assets into virtual power plants (VPPs). These assets include batteries, electric vehicles, smart thermostats, HVAC systems, and industrial facilities. Leap manages the complexities of operating within wholesale energy markets, enabling partners to generate hidden revenue streams, enhance customer engagement, and achieve their sustainability objectives. The company's recent funding rounds suggest a growth stage focused on scaling its VPP technology and market reach.
How much funding has Leap raised?
Leap has raised a total of $60.1M across 4 funding rounds:
Angel/Seed
$2.4M
Series A
$8.2M
Series B
$33.5M
Private Equity
$16M
Angel/Seed (2018): $2.4M with participation from National Grid Partners, Powerhouse Ventures, and Congruent Ventures
Series A (2020): $8.2M led by Union Square Ventures
Series B (2021): $33.5M supported by Climate Capital, Park West Asset Management, and Silicon Valley Bank
Private Equity (2023): $16M featuring DNV Ventures, Congruent Ventures, Standard Investments, Union Square Ventures, Sustainable Future Ventures, and National Grid Partners
Key Investors in Leap
Congruent Ventures
Congruent Ventures is a climate-focused investment firm committed to partnering with bold entrepreneurs in North America. They specialize in supporting early-stage companies that innovate across various domains, including climate technology, aiming to create impactful solutions that utilize resources more efficiently.
Union Square Ventures
Union Square Ventures is a New York City-based venture capital firm that invests in transformative markets influenced by technological and societal changes. The firm targets a variety of sectors, focusing on innovative companies poised for growth.
National Grid Partners
National Grid Partners invests in technologies that address current challenges and shape future energy systems. They act as a bridge between entrepreneurs and utilities, fostering collaboration for innovative energy solutions.
What's next for Leap?
With its latest major strategic investment and substantial overall capital, Leap is poised for accelerated expansion. The company's focus on creating VPPs from flexible energy resources aligns with the global shift towards decarbonization and grid modernization. Future developments are likely to involve further integration of diverse energy assets, expansion into new geographical markets, and enhanced technological capabilities to optimize grid services. The substantial backing from strategic investors indicates confidence in Leap's business model and its potential to reshape energy markets by providing essential grid services with clean energy alternatives.
See full Leap company page
