Bringg, a logistics platform for enterprises, has raised $10 million in a new round of funding.
The funding round was led by Aleph VC and joined by Coca-Cola and previous investor Pereg Ventures. The company will use the money to expand around the world.
Bringg’s products are used by retail, ecommerce, consumer products, food, and logistics companies in more than 50 countries, including some of the world’s leading brands. With offices in Tel Aviv, New York, and Chicago, the company plans to leverage the new funding round to grow its marketing and sales presence in existing and new markets across the globe. It will also expand its R&D and support teams.
“Amazon raised the standards when it comes to delivery, we provide the tools that enable any company to match their logistics excellence,” said Raanan Cohen, cofounder and CEO of Bringg, in a statement. “This milestone will help us fuel Bringg’s meteoric growth, and I look forward to working with the Aleph team to continue establishing Bringg as the de facto customer-centric logistics solution for enterprises.”
Every company that delivers goods and services is facing a set of serious logistical challenges these days. On the one hand, customer expectations are higher than ever in terms of speed and convenience, which means companies must restructure their last-mile models in order to create the seamless experience their customers expect.
On the other hand, to preserve their cost structure, they must establish a leaner supply chain that is elastic enough to accommodate a variety of delivery models and providers, in order to cost-effectively and rapidly scale their fleet across in-house resources, outsourced drivers, and third-party providers.
Bringg says it offers companies a powerful yet flexible solution that enables them to streamline their entire delivery ecosystem — from the headquarters to the field and all the way to the customer. Bringg’s solution creates the optimal customer experience on the front end while ramping up operational efficiencies on the backend through real-time visibility, elastic logistics, and integrated processes.
Aaron Rosenson, partner at Aleph VC, said in a statement, “We are excited to partner with Bringg. We are strong believers in the ability of technology to disrupt the logistics world and already made two investments in that space. Bringg’s team is led by very strong and experienced entrepreneurs who see the growing trend of e-commerce and understand the desperate need for innovative logistical solutions. That is why we decided to write our largest check to date.”
To date, Bringg has raised $18 million. It was founded in 2013 by Cohen and chief technology officer Lior Sion. Bringg has 50 employees in Tel Aviv, Israel and New York City.