Bringg, the technology company that bills itself an “operating system” for delivery logistics, has announced $25 million in new financing, which it said will help it meet booming demand for e-commerce fulfillment solutions.
“This is a watershed moment for Bringg,” CEO Guy Bloch said in a statement. “As the business goes into hyper-growth mode, our teams must expand across all departments. 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, while providing them with the optimized business models required for retailers to win in today's challenging market.”
Photograph courtesy of Bringg
Bringg is partnering with Walmart on its pilot of crowdsourced delivery known as Spark. Bringg officials say the software can analyze incoming orders and deploy them efficiently, track delivery and improve the customer experience. The company, with offices in Tel Aviv, Israel, and Chicago, is also working with Panera Bread and Arcos Dorados, McDonalds’ largest global franchisee.
Next47, the Siemens-backed global venture firm, is joining existing investors in Bringg’s C round financing.
“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 with Next47. “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.”