Bringg, the leading delivery logistics platform for enterprises, announced today that it has raised a new funding round from strategic partners, bringing its investment total to $53 million. The $25 million C round adds Next47, the Siemens-backed global venture firm, to its existing list of well-known investors, including Salesforce Ventures, Aleph VC, OG Ventures (Eyal Ofer’s VC arm), Cambridge Capital, Coca-Cola, Ituran and Pereg Ventures.
Following strong market traction with clients including Walmart, Panera Bread, and Arcos Dorados (McDonalds’ largest global franchisee), the new funding will help accelerate business expansion during the company’s hyper growth stage. Bringg will use the funds to further expand globally from its current reach of more than 50 countries, through sales, marketing and development efforts targeted at securing additional global enterprise customers.
The booming demand for faster deliveries that are also more convenient and fully transparent, means that businesses are under increasing pressure to explore new ways to create the perfect experiences for their customers, while optimizing their delivery-related business models. Bringg’s Delivery Logistics solution provides the platform for enterprises to orchestrate, manage, measure and track their entire delivery ecosystem, whether they are using in-house fleets, third party providers, or a combination of both.
Guy Bloch, CEO at Bringg said: “This is a watershed moment for Bringg as it goes into hypergrowth mode. This new investment enables Bringg to level the playing field in the age of Amazon by enabling large retailers, grocery chains, consumer goods companies, restaurant chains and logistics firms to provide their customers with what they expect from their deliveries, based on the optimized business models required to win in today’s challenging market.” Guy added: “We are on a mission to equip enterprises with the technology platform they need to orchestrate successful delivery operations - providing their management and logistics teams with the visibility and control they need to not only survive but thrive in this exciting new landscape.”
Matthew Cowan, Partner at Next47 added: “We’re delighted to invest in Bringg, a pioneering company that’s providing crucial capabilities to leading organizations looking to connect logistics data across different silos and optimize their last mile of delivery. With the global logistics market predicted to grow to $15.5 trillion by 2023 and the ‘Amazon effect’ drastically changing customer expectations, Bringg has a massive opportunity to fundamentally transform the logistics industry by enabling seamless automation, greater data transparency, and a more collaborative mental outlook.”
