Tel Aviv startup Bringg, which works in delivery services, has completed a Series D funding round for $30 million amid a global crisis that has seen demand for the company’s services skyrocketing, according to TechCrunch.
Bringg’s recent round was led by Viola Growth, with previous investors Next47, Salesforce, OG Tech Ventures and GLP returning also contributing. The total raised is now $83 million.
Bringg helps companies construct their delivery operations and put them into play, and the startup has already seen some heavy hitters like McDonald’s, Walmart and Coca-Cola using its services. The company works to help set up delivery operations, streamline online ordering and manage any necessary third-party services
CEO Guy Bloch noted the accomplishment of closing a round through the coronavirus pandemic-induced market shutdown and financial turmoil.
He said his company is offering something that people and businesses need right now. As the coronavirus takes its toll, people have had to stay indoors, and restaurants and stores have had to close their doors to slow the virus’s spread.
The delivery economy, based on a new way of living in which people want things on-the-go without having to carve out a specific time to drive and pick things up, has been growing in recent years. But the latest developments due to the virus have changed the game over the past few weeks. Now, while delivery services and apps are seeing an even greater rise, companies that never needed a delivery service have to adapt fast or see business slip away.
Bloch said company officials had thought Bringg would reach an apex within the next three to five years — but with the virus, things are happening “in front of our eyes, right now” in terms of Bringg’s main motives.