Bringg, the leader in last-mile delivery and fulfillment technology solutions, announced it has secured a $100M Series E round of funding to capitalize on the growing momentum for its products and services. This new financing round is led by SoftBank Investment Advisers and Battery Ventures who join existing investors Deutsche Telekom, Aleph VC, Carmel Ventures, Viola Growth and Ituran.
Bringg’s Series E round will help fuel the company’s global growth strategy. The Series E funds will be used to hire additional personnel across strategic offices in Europe and North America; to expand partnerships with industry-leading organizations; and to make further investments in research & development for Bringg’s innovative last-mile delivery solutions.
The new financing marks a milestone for Bringg as it continues to deliver end-to-end technology solutions that help enterprises succeed with logistics operations beyond traditional eCommerce markets into other verticals such as retail or food & beverage businesses.
Bringg Raises $100M Series E Round to Capitalize on Growing Momentum for Last-Mile Delivery and Fulfillment Technology
Bringg is a logistics technology provider that provides powerful, cloud-based SaaS solutions for last-mile delivery and fulfillment. It works directly with retailers, restaurants, and delivery companies to drive efficiency and reduce costs in the last-mile delivery process.
Recently, the company announced its Series E round of investments which raised $100 million. Let’s take a closer look at what led Bringg to its success.
Bringg is a technology company founded in 2013 by Lior Sion and Rafael Sion. The firm provides a comprehensive platform for enterprise-level delivery management, helping businesses to streamline last-mile operations and optimize logistic efficiency. Bringg supports more than 20 different verticals, ranging from quick service restaurants and grocery stores to healthcare, pharma, logistics and more.
Bringg’s cloud-based solution provides companies – from global multi-billion dollar enterprises to small mom & pop store owners – with the tools they need to monitor delivery operations while reducing costs, increasing customer satisfaction levels, boosting revenue and boosting the performance of their drivers and fleet. Features include:
- Driver tracking with GPS mapping capabilities.
- Real-time alerts.
- Automated notifications.
- Order scheduling.
- Delivery route optimization.
- Two-way communication between customers and couriers.
- Integrated payment options, webhooks for third party integrations, reporting dashboards and more.
In April 2021 Bringg announced it has secured $100M in Series E round funding led by BlackRock with participation from existing investors Viola Ventures, Peregrine Ventures, ClalTech Fund L.P., Coca Cola Company’s growth equity fund Venturing & Emerging Brands (VEB), Oryzn Capital and Granite Hills Capital Partners LLC. This brings the company’s total funding amount to more $170M since inception. With this investment Bringg will continue developing its cutting edge technology offerings for enterprises globally and expanding its customer service capabilities across all markets served by Bringg.
Bringg is a leading provider of last-mile delivery and fulfillment technology. For ecommerce companies, final mile logistics can be especially challenging when attempting to facilitate same-day delivery. This is where Bringg comes in, providing ecommerce businesses with innovative technology solutions to improve the delivery process from start to finish.
The Bringg platform uses advanced route optimization algorithms and real-time tracking to reduce costs and drive higher efficiency for businesses across the last mile. With its state-of-the-art software platform, Bringg helps customers save time and money while ensuring quick and reliable deliveries.
Recently, Bringg secured $100M in Series E funding round led by Clearlake Capital Group LP with participation from existing investors Aleph VC Fund, Gemini Israel Ventures and Vintage Investment Partners. This investment will capitalise on Bringg’s growing momentum by enabling the company to deliver even more flexible solutions specifically designed for fast-growing verticals such as food delivery, retail curbside pickup and healthcare logistics.
Bringg works with some of the world’s most iconic brands such as Walmart Mexico & Central America, Staples EU., Jumia Kenya/Nigeria/Egypt/UAE/Morocco/South Africa/Ghana/Algeria. The company also provides customer experience solutions for growing small businesses worldwide with software tailored to their needs.
Investors of the Series E Round
Bringg, the leading last-mile delivery and fulfillment technology, recently announced a new Series E round, raising the total to over $160 million. The new round was led by Canaan, along with participation from other existing investors in Bringg such as Pitango Growth, La Maison, Viola Growth, and Glilot Capital Partners. Additional investors included Coca-Cola Amatil, Expa and Next47 and several corporate strategic investors.
We’ll examine the details of the Series E round and the investors involved.
Insight Venture Partners
Insight Venture Partners, a leading global venture capital and private equity firm investing in high-growth technology and software businesses, was a key investor in Bringg’s series E round. Insight brings a deep understanding of last-mile delivery and fulfillment operations and is a critical partner for Bringg as it continues to expand its platform offerings.
Insight has invested more than $9 billion in over 500 growth companies since its founding in 1995, from early stage startups to global public companies. The organization invests in high-growth technology firms such as Twilio, Slack, Intercom, Namely, Yext, Zuora and Dropbox.
Insight Venture Partners lead Bringg’s Series E funding round with participation from existing investors Aleph VC and Pitango Growth. This strategic Investment will fuel Bringg’s expansion into new geographies allowing them to expand their customer base while meeting the increasing demand for last-mile delivery services beyond traditional couriers.
Coca-Cola is one of the lead investors in Bringg’s recently closed $100M Series E round. The raise will enable Bringg to accelerate its last-mile delivery and fulfillment technology development that links retailers, restaurants, and customers in an interconnected platform designed to improve customer experience.
The Coca-Cola Company is a global beverage giant with over 500 brands, including Minute Maid Juices, Dasani water and vitaminwater, POWERADE sports drinks, Fanta flavored beverages and many more. Leveraging its unique position in the market and previous success investing in technology companies such as ecommerce platform Daigou and home-food delivery app Benlai Fresh Delivery Services Co., Coca Cola has invested over $1 billion across 49 companies around the world since 2017.
As part of this new partnership with Bringg, Coca Cola aims to further streamline the retail customer journey from ecommerce to brick-and-mortar stores by improving supply chain efficiencies along with differentiated product offerings and services. With online momentum at all time high levels as a result of stay-at-home orders during COVID on top of shifts how consumers expect businesses to operate beyond traditional brick-and-mortar stores, the funds from this investment round will be used by Bringg to expand its operations globally so more companies can benefit from its delivery–fulfillment–retail integration platform. In addition, with Coke’s help, Bringg hopes to form even closer partnerships between retailers, restaurants, distribution centers and other customer touchpoints like chauffeurs or city streets on their way to becoming a true last mile solution provider for customer experiences the world.
Pereg Ventures led Bringg’s $100M Series E round joined by Mayfly Ventures, Hetz Ventures, Commerce Ventures, and new investors from the US and Japan.
Pereg Ventures is an international venture capital firm with offices in London, Tel Aviv and Tokyo. It primarily focuses on early-stage technology investments in the Fintech, Insurtech and Digital Health sectors. The core of Pereg Ventures consists of a partnership between Peregrine Miron-Conforty, Eddi Caspi who are based in Israel; John James and Richard East who are based in London; and additional deal partners located around the world including Joseph Segev in Tokyo and Justin Asirotic based in Los Angeles.
The Pereg team has expertise in strategy consulting, operations management, growth hacking informatics, venture capital investment analysis, product design & business development. Over recent years it has invested in early stage companies such as WooCommerce (a plugin for WordPress), Wealth Future Japan (financial services platform targeting small businesses) , Gudetama (a web-based game about an egg character), Outspirit(AI for financial services)and others.
Aleph, a venture capital firm with offices in Tel Aviv and Paris, was one of the investors in Bringg’s Series E round. Founded in 2014 by former Google employees, Aleph focuses on early stage startups in Israel and Europe. Their investments range from software to robotics and biotechnology.
Aleph has invested in several successful Israeli startups such as WalkMe, Cango,Monday.com, Trax Imaging Solutions and most recently Bringg. The VC firm also has investments globally from Beyond Verbal, Tovala and Transfix.
Bringg CEO Tomer Naveh expressed his pleasure at the investment of Aleph who “share our vision for transforming the delivery experience into an engagement opportunity for customers”. With this funding round a total of around $200M has been raised by the company thus far which will boost their transformation to fine tune last-mile delivery technology even more!
Next47 is the global venture capital firm focused on technology innovation and category leadership across Europe, North America, Israel, and Asia-Pacific. Next47 was founded by Siemens in 2016 to act as a strategic investor—investing Siemens’ financial and technological assets in entrepreneurial start-ups that are rapidly disrupting global markets.
Bringg’s Series E round saw the participation of numerous world-renowned investors with expertise related to logistics technology, such as Next47. Through this investment, Next47 brings financial resources for Bringg to leverage for growth and supports the company’s vision of transforming the last-mile delivery industry through its pioneering logistics platform.
Vintage Investment Partners
Vintage Investment Partners is a private equity and venture capital firm founded in 2017 and based in Cabo San Lucas, Mexico. The firm is focused on investing in early stage companies with a focus on technology-enabled enterprises.
Vintage Investment Partners participated in the $100M series E round of Bringg that was announced recently. It will fuel Bringg’s growth plans, including advancing their last-mile delivery and fulfillment technology.
Viola Growth led this strategic financing with participation from SoftBank Latin America Fund, Vintage Investment Partners and other existing investors such as Aleph, BP Ventures and Evergreen Venture Partners. According to the company press release announcing the investment, it should enable Bringg to capitalize on its “growing momentum for last-mile delivery and fulfillment technology that paves the way for driving scale efficiency across digital supply chain operations”.
Vintage Investment Partner’s additional participation in this funding round reflects its continuous faith and commitment to deploying capital into innovative companies leading their respective industries.
Updata Partners, a global venture capital firm, participated in the Series E round of funding for Bringg. Updata Partners focuses on investing in rapidly growing technology companies that offer enterprise solutions and have the potential to disrupt their respective industries. Most of their investments are concentrated in B2B software and services companies with strong competitive advantages and predictable revenue or profit models.
Founded in 2001, Updata Partners invests at all stages of a company’s growth cycle, from early-stage startup to seasoned public company. This Series E round of funding is one investment into this widely respected VC firm’s diverse portfolio as they continue to invest in game-changing organizations like Bringg that can revolutionize their fields.
With this latest round of funding from Updata Partners, Bringg reaffirms its commitment to being the preeminent last-mile delivery and fulfillment technology partner for businesses across numerous industry sectors worldwide.
Viola Ventures is a venture capital investment arm of Viola Group, an Israel-based technology-focused private equity firm founded in 2000. Viola Ventures has made substantial investments into companies within the technology space in the e-commerce, cybersecurity and artificial intelligence sectors. The firm has offices in New York and Tel Aviv, focusing on investments into early-stage companies across the Middle East, U.S and other global markets.
Viola Ventures is a shareholder and Board Observer at Bringg from its recent $100M Series E round and developed a strategic partnership with Bringg, allowing technology to be developed more quickly than ever.
Pitango Venture Capital is one of the investors in Bringg’s Series E round. Pitango is a leading venture capital firm with over $2 billion of assets under management and 21 years of experience delivering innovative solutions to the world’s leading organizations. Pitango invests globally, nurturing relationships with entrepreneurs, technology companies and universities.
Pitango has accepted a role in Bringg’s Series E round as part of its strategy to invest in high-potential companies in the digital market landscape. As part of the agreement, Pitango is investing USD$15 million and will be given a seat on Bringg’s board to provide strategic guidance as the company continues its rapid expansion into global markets for last-mile delivery and fulfillment technology.
The funding from this Series E round, led by Pitango and all other participating investors, brings Bringg’s total funding up to $153 million and positions the company to capitalize on growing momentum for last-mile delivery and fulfillment technology. With this additional capital infusion, Bringg will aim to advance its mission of helping businesses meet rising customer demands for convenience throughout their operations.
Impact of the Series E Round
By raising an impressive $100M in its Series E round, Bringg is well-positioned to capitalize on the growing momentum for last-mile delivery and fulfillment technology. In addition, this latest round of funding will help Bringg to further accelerate its market expansion, foster innovation, and grow its customer base.
In this article, we will explore the impact of this Series E round on Bringg’s prospects.
Expansion of Last-Mile Delivery and Fulfillment Technology
The $100 million Series E round funding for Bringg reflects the company’s growing momentum in last-mile delivery and fulfillment technology. This new influx of capital will allow the company to continue its expansion in this rapidly evolving field.
With this new influx of capital, Bringg can increase their customer service capabilities worldwide, further broaden their global consumer base, and invest more resources into research and development activities.
Bringg’s last-mile delivery and fulfillment technology provides businesses with a platform to manage their supply chains efficiently, allowing them to get products delivered quickly and cost effectively. By providing a streamlined solution consolidating the order workflow process and offering operational flexibility, Bringg is well positioned to address the intensifying demand for better customer experiences.
The latest funding should enable Bringg to expand its presence across other industries such as healthcare and eCommerce, further tailoring its already innovative platform offerings so customers can more effectively manage global logistics operations. The funds will also enable them to hire additional talents to help bridge the gap between technology solutions providers and corporate customers, leading them to newfound success in their respective industry sectors.
Bringg, a leading last-mile delivery and fulfillment solutions provider, announced its $100 million Series E round of funding from Key investors this month. The capital raised will fuel the company’s mission to bring customers the best experiences in delivering goods in today’s eCommerce era. The funds will also be used for accelerating global expansion and innovation initiatives to further empower retailers, enterprises, third-party logistics (3PLs) and more with the industry’s most powerful unified last mile platform.
This new influx of capital provides Bringg with greater stability and increased resources needed to capitalize on growing momentum of its powerful last-mile technology solutions. Specifically, the Series E round lets Bringg expand operations across America and into Asia Pacific countries such as South Korea and India. With these resources available, Bringg can now provide an even more comprehensive suite of services in existing geographies while diving deeper into their key verticals of retail, grocery and enterprise logistics delivery. The additional funds also give added weight to Bringg’s AI-driven Orchestration suite that improves customer experience across all channels by unifying delivery processes end-to-end including task automation capabilities, route optimization for drivers/couriers, rapid time to market for both closed loop shippers as well as 3PLs and technology partners like Uber based San Francisco Flexport platform all within one unified framework.
Investment in Product Development
Bringg’s $100M Series E round will significantly enhance the company’s product development capabilities. The funds raised will enable Bringg to continue optimizing its existing solutions and executing its product plans, with a particular focus on creating deeper verticals for the food sector and a growing presence in omnichannel retail.
John Battelle, one of the lead investors in Bringg’s Series E round, outlined the potential for product opportunities in a press release noting, “Bringg has an incredibly strong platform for helping retailers improve their operations quickly and efficiently,” said John Battelle. “I am confident that last-mile delivery and fulfillment technology will continue to be a major growth area especially given the ongoing changes in consumer habits brought about by COVID-19.”
Bringg plans to use these resources to make investments in integrations with third party providers like carriers & logistics service providers; development of SDKs to create new use cases; increased support for its global expansion efforts; innovations targeted at smaller merchants & gig-economy drivers; expanding its Fulfillment product capabilities; as well as investing more resources into research & development of data insights around customer behavior, route optimization & market intelligence trends. By leveraging these assets, Bringg seeks to increase its reach into an ever growing marketplace contributing more value to both customers & end users alike.
Bringg’s Series E round of funding is a major milestone in the company’s growth, enabling it to further establish its market-leading position in last-mile delivery and fulfillment technology, while also preparing to capitalize on an expected future surge in demand. The impressive lineup of strategic and financial investors exemplifies the value and potential of the company’s business model and industry leading position.
Going forward, Bringg will be leveraging these new funds to accelerate product innovation, invest in more enhanced customer service capabilities, grow their experienced team, and fuel business expansion across key markets within the global market.
In conclusion, Bringg’s Series E round investors are best positioned to capitalize on this growing momentum for last-mile delivery and fulfillment technology which is expected to keep surging moving forward. As such, their strategic investments into Bringg is anticipated to reap many positive returns for years to come.