- Bringg — a leading delivery orchestration platform — announced it raised $30 million in Series D funding led by Viola Growth
Bringg — a leading delivery orchestration platform — announced it raised $30 million in Series D funding led by Viola Growth. This funding is aimed at helping businesses across a wide range of verticals keep up with rapidly expanding delivery momentum. Including this round of funding, Bringg has raised a total of $83.3 million.
With the COVID-19 outbreak, the delivery market has seen adoption in a matter of weeks that was predicted to occur in a few years’ time. And in this last week alone, Bringg has seen a 24% week-over-week increase in customer delivery volumes across verticals.
A number of restaurants, grocers, retailers, and logistics providers have struggled to adapt to this market shift, unable to meet demands with their existing logistics operations and drivers.
Businesses are often challenged with the task of building a sustainable delivery model that can scale quickly with new delivery options and third-party fleets. Using Bringg’s Delivery Logistics platform, businesses can orchestrate, manage, measure, and track their entire delivery ecosystem whether they are using in-house fleets, third-party providers, or both.
This round of funding will enable Bringg to expand its large enterprise and BringgNow SMB solutions and scale its workforce to help all businesses overcome their delivery challenge.
Key Quotes:
“Enterprises we’ve spoken to were always aware that a big market shift was coming, but in a matter of only a few weeks that shift has fully arrived and almost everyone has been caught off guard. This latest round is a vote of confidence from some of the leading investors in our industry and an affirmation that the market needs us now more than ever. And that we are the leading solution to help enterprises survive this upheaval while building the necessary delivery infrastructure to meet customer needs, sustainably, into the future.”
-Bringg CEO Guy Bloch
“We’re living in a ‘delivery economy’ and the latest market upheaval brought on by COVID-19 will only expedite this new reality in which brands won’t be able to afford to do business without this kind of solution. Bringg enables brands to take full control of their data, increase customer satisfaction, and ultimately their revenues. We believe this market has major expansion potential and that Bringg, with its exceptional vision and execution, is ripe to take leadership, which is why we decided to lead this round.”
-Eran Westman, Partner at Viola Growth
“Today with COVID-19 keeping consumers homebound, delivery is not a business differentiator but a critical logistics model, keeping businesses afloat. Our latest investment demonstrates our belief in the value Bringg delivers to the market, providing businesses of all sizes the capabilities to connect logistics data across different silos and optimize their operational models for rapid, convenient delivery service.”
Matthew Cowan, General Partner at Next47
