Kansas City startup Leap2 attracts more investors
06/25/2014 9:30 AM
06/25/2014 8:53 PM
Leap2, one of the fast-growing new companies in the Kansas City, Kan., Startup Village, has closed on a $1.1 million convertible note, led by the AngelList syndicate FG Angels.
Since its founding three years ago in the Google “fiberhood,” Leap2 has raised about $3 million in the process of creating Leap.it, an alternative search engine for mobile and Windows.
Leap.it made its debut online in March.
Leap2 founder Mike Farmer said the company had aimed for a $750,000 convertible note, but interest from Brad Feld, with FG Angels and the venture capital firm Foundry Group, ramped up participation from other angel investors.
“With Feld’s strong track record, other investors followed,” Farmer said. “We’re very pleased. You don’t reinvent search on a small dime.”
Leap.it is a web search engine that uses a more visual display than the familiar list format of Google and Bing. Leap.it describes itself as delivering “large webpage previews, relevant images, videos, news stories, local listings and real-time social” in a single “visual interface.”
Farmer said the company employs the equivalent of nine full-time employees and has a large intern staff this summer. In addition to working out of its first house at 4454 State Line, it has expanded into what’s now being called the Feld fiberhouse at 4437 Cambridge St., also in Kansas City, Kan.
Kansas angel investor tax credits are available for AngelList syndicate investors.
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