Bringg, a Chicago-based logistics platform company announced it has raised $25 million in Series C funding. This investment brings the company’s total funding to $53 million. This round included Next47 (venture firm backed by Siemens) along with existing investors Salesforce Ventures, Aleph VC, OG Ventures, Cambridge Capital, Coca-Cola, Ituran, and Pereg Ventures.
With this round of funding, it will accelerate Bringg’s business expansion during a hyper growth stage. And Bring will be using the funding to further expand globally from its current reach of more than 50 countries through sales, marketing, and development. Some of Bringg’s customers include Walmart, Panera Bread, and Arcos Dorados.
“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,” said Bringg CEO Guy Bloch in a statement. “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.”
As the demand for faster deliveries have been increasing, it has been increasing the pressure for companies to explore new ways to create better customer experiences while optimizing delivery-related business models.
Bringg’s Delivery Logistics solution enables enterprises to orchestrate, manage, and track their entire delivery ecosystem whether they are using in-house fleets, third-party providers, or a combination of both.
“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,” added Next47 partner Matthew Cowan. “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.”
