Delivery logistics platform Bringg announced that it has raised $25 million in new funding, bringing its investment total to $53 million.
The Series C round adds Next47, the Siemens-backed global venture firm, to Bringg’s existing list of investors, including Salesforce Ventures, Aleph VC, OG Ventures (Eyal Ofer’s VC arm), Cambridge Capital, Coca-Cola, Ituran and Pereg Ventures.
“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,” said Matthew Cowan, Partner at Next47, in a press release. “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.”
Bringg will use the funds to expand into additional markets around the world, boosting its current reach of more than 50 countries.
“This is a watershed moment for Bringg as it goes into hypergrowth mode,” Guy Bloch, CEO at Bringg, said. “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.”
Bringg’s Delivery Logistics solution enables companies to plan, manage, measure and track their entire delivery ecosystem, whether they are using in-house fleets, third party providers, or both.
“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,” added Bloch.