Bringg, a logistics startup that gives companies a more efficient way to manage their delivery operations, just raised funds at a unicorn valuation.
The startup, which was founded in Tel Aviv but counts Chicago as a dual headquarters, announced Wednesday that it raised $100 million in funding at a $1 billion valuation. The funding was led by Insight Partners, along with Cambridge Capital, GLP, Harlap, Next 47, Pereg Ventures, Salesforce Ventures and Viola Growth. Bringg says it's the first unicorn tech company in the last-mile delivery and fulfillment cloud technology space.
Bringg's software allows companies to streamline their logistical operations, helping them plan, measure and track the entire delivery process. The company counts big-name brands like Walmart, Coca-Cola and Panera among its customers.
The Covid-19 pandemic created a boost in business, Bringg said, as companies turned to its software to get a better handle on their logistics operations. The startup said it saw 180% year-over-year new customer growth last year.
Bringg has now raised more than $180 million since it was founded in 2013. It last raised $30 million in 2020.
The startup says it has 20 Chicago employees.
