Logistics startup Bringg has raised $25 million in new funding as it aims to help businesses ship their goods more efficiently.
Bringg, co-headquartered in Chicago and Tel Aviv, raised the new round from a host of well-known investors. The round was led by Next47, a Siemens-backed global venture firm, and included backing from Salesforce Ventures, Coca-Cola, Israeli billionaire Eyal Ofer’s OG Ventures, Aleph VC, Cambridge Capital, Ituran and Pereg Ventures.
Bringg has now raised $53 million in funding since it was founded in 2013.
Bringg’s logistics platform gives companies a more efficient way to manage their delivery operations, allowing them to orchestrate, measure and track the entire delivery process.
The startup’s customers include brands like Walmart, Panera Bread, Coca-Cola and Auto Zone. Bringg says it has clients in more than 50 countries, and it plans to use the funding to continue to expand and boost its sales, marketing and development efforts.
“This is a watershed moment for Bringg as it goes into hypergrowth mode,” Bringg CEO Guy Bloch said in a statement. “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 optimized business models required to win in today's challenging market.”
Bringg is one of several Chicago logistics startups (project44, FourKites, ShipBob) that continue to raise large rounds in hopes of helping businesses better ship their wares.
