The latest round, led by Viola Growth with participation from existing investors Next47, Salesforce Ventures, OG Tech Ventures, and GLP will help scale Bringg’s operations, enabling continued growth.
Tel Aviv, – April 07, 2020 – Bringg, the leading delivery orchestration platform, announced today a series D funding round led by Viola Growth aimed at helping businesses across verticals keep up with rapidly expanding delivery momentum. The latest round takes Bringg’s funding total to $83.3 million, enabling rapid global market expansion to both large enterprises and SMBs.
With the outbreak of COVID-19, the delivery market has, in a matter of weeks, seen adoption that was predicted to occur in a few years’ time. In this last week alone Bringg has seen a 24% week-over-week increase in customer delivery volumes across verticals. 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.
Many businesses are challenged with the task of building a sustainable delivery model that can scale quickly with new delivery options and third-party fleets. With 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 latest round of funding will allow Bringg to expand its large enterprise and BringgNow SMB solutions and scale its workforce to help all businesses overcome their delivery challenge.
“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,” said Bringg CEO Guy Bloch. “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.”
“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” said Eran Westman, Partner at Viola Growth. “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.”
“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,” said Matthew Cowan, General Partner at Next47.
We’re proud to be able to invest once again in Bringg, a company with a product that is truly leading the market and has demonstrated proven delivery value for leading global brands across the globe time and again” said Alex Kayyal, Partner at Salesforce Ventures. “Bringg is uniquely positioned to help enterprises of all sizes across so many verticals adapt to the shift and build a delivery operation that will last into the future.”
Bringg is the leading delivery orchestration solution, providing enterprises with the most efficient way to manage their complex delivery operations. Some of the world’s best-known brands in more than 50 countries are already gaining clear strategic value from Bringg’s powerful SaaS platform which offers the real-time capabilities they need in order to achieve logistical excellence across their delivery ecosystem. Market-leading companies from the retail, grocery, restaurant, consumer goods, logistics and services industries trust Bringg’s technology to help them streamline their logistical operations for peak efficiency, enable fully elastic logistics across multiple delivery models, and create perfect delivery experiences for their customers. By using our platform, they can establish successful cost-effective operations that balance the needs of all the participants in their delivery ecosystem – from management at headquarters, through the teams in the field, and all the way to the end-customers who are at the heart of the entire process. For more information, please visit our website at www.bringg.com.
About Viola Growth
Viola Growth is a technology growth capital fund that focuses on investing in Israeli-related global technology companies at their expansion phase. The fund invests in fast-growing, growth-stage companies, with potential for category leadership, substantial annual revenues, profitable unit economics, and a proven business model.
Viola Growth manages three funds with a total of $730M AUM and has invested in 28 companies to date, with close to a dozen exits. Viola Growth is part of Viola, Israel’s leading tech investment group, with over $3 billion AUM. www.viola-group.com.
About Salesforce Ventures
Salesforce is the global leader in Customer Relationship Management (CRM), bringing companies closer to their customers in the digital age. Salesforce Ventures, the global investment arm of Salesforce, invests in the next generation of enterprise technology that extends the power of the Salesforce Platform. Salesforce Ventures is building the world’s largest ecosystem of enterprise cloud companies and extending that technology to customers. Portfolio companies receive funding, strategic advisory and operating support, and can easily joinPledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 375 companies, including DocuSign, GoCardless, Guild Education, nCino, Twilio, Zoom and others across 22 countries since 2009. For more information, please visit www.salesforce.com/