Bringg, a leading delivery logistics management platform with offices in Tel Aviv, Chicago, and New York, announced that it raised a $25 million Series C funding round.
The funding was led by Siemens-backed global venture firm Next47, with participation from existing investors including Salesforce Ventures, Aleph VC, OG Ventures, Cambridge Capital, Coca-Cola, Ituran, and Pereg Venture.
Get our weekly newsletter directly in your inbox!Sign up
Bringg says its powerful SaaS platform offers the “real-time capabilities companies need in order to achieve logistical excellence across their delivery ecosystem.” Its 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.”
Bringg’s clients include market-leading companies from the retail, grocery, restaurant, consumer goods, logistics, healthcare, and services industries.
The company says it 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.”
Bringg was founded in 2013 by CTO Lior Sion, previously with Gett, and Raanan Cohen. The company recently added Michael Weinberg, formerly with marketing analytics platform Datorama (acquired by Salesforce in 2018) as SVP Business Development.
Bringg CEO Guy Bloch 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.”
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.”
This recent round brings the total amount raised by Bringg to $53 million since its founding.