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WhatsApp compliance platform LeapXpert secures $22M to monitor employee chats

Photo Credit: LeapXpert

The pandemic caused a growth in work-from-home and hybrid work, which increased people’s reliance on gadgets, prompting organisations to try to limit their use. This has posed a challenge for the financial services industry, which already suffers from strict governance and compliance requirements.

LeapXpert, which helps financial institutions guarantee their staff stay compliant on platforms like Whatsapp, has raised $22M in funding. The round was led by Rockefeller Asset Management through its Technology Ventures Group and it saw participation from other investors such as Uncorrelated Ventures, the Partnership Fund for New York City, a new strategic investor, and existing investors.

This fresh amount of funding will be used by LeapXpert to fulfil increased demand from the financial services industry, accelerate penetration into additional business verticals, and expand its relationship network. To strengthen its present technology, the firm will continue to expand The LeapXpert Communications Platform, add more vertical modules, better its voice offering, introduce a new public SaaS solution, and roll out additional integrations.

This funding announcement comes just a few months after the company launched its next generation platform with voice call support, six months after introducing the first Microsoft Teams integration for compliant messaging

“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.

“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. 

LeapXpert promotes its worker-monitoring, “mobile-first” interface, through which employees may sign in to and use chat channels such as SMS, iMessage, WhatsApp, Telegram, WeChat, Signal, Line, and select VoIP apps. Companies can specify rules and restrictions for the sorts and level of materials that can be transmitted internally or externally, including certain keywords and phrases, and check the real-time status of all messages sent.

LeapXpert, founded in 2017 by Avi Pardo, Dima Gutzeit, and Rina Charles, enables organisations to embrace consumer messaging apps and integrate them into mission-critical services.

Meanwhile, the LeapXpert Communications Platform enables employees and clients to interact in a compliant, controlled, and secure manner via consumer messaging apps and audio channels.

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