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Logistics software start-up wins €25 million in funding


A start-up which offers logistics management software has won $25 million in investment in a funding round.
Bringg, which provides a platform for enterprises to orchestrate and track their delivery operations, won the money in its C round of funding. It offers automation tools for every part of the process, including for dispatch processes and for driver tasks.

The round saw Siemens-backed venture firm Next47 join existing investors including Salesforce and Coca-Cola.

The start-up’s clients include Walmart, Panera Bread and Arcos Dorados, the latter of which is McDonald’s largest global franchisee.

Bringg will use the funding to expand to new markets through sales, marketing and development efforts. Offering its services in 50 countries, the firm is headquartered in Tel Aviv but has offices in London, Chicago, Austin and Toronto.

Guy Bloch, CEO at Bringg, said the money would allow it to go 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 optimised business models required to win in today’s challenging market.”

Bloch added: “We are on a mission to equip enterprises with the technology platform they need to orchestrate successful delivery operations, providing their management and logistics teams with the visibility and control they need to not only survive but thrive in this exciting new landscape.”

Matthew Cowan, Partner at Next47, said his firm had invested in Bringg because of its “massive opportunity to fundamentally transform the logistics industry by enabling seamless automation, greater data transparency, and a more collaborative mental outlook.”

Image credit: Pixabay

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