Bringg has successfully raised $89.5 million over seven funding rounds, achieving a valuation of over $1 billion. The platform is a global technology company focused on digital transformation in delivery, helping enterprises meet customer expectations by transforming order fulfillment.
Keep reading to explore the intricacies of Bringg's fundraising journey and the investors backing this innovative platform.
What Is Bringg?
Bringg, founded in 2013, is a global technology company headquartered in Tel Aviv, Israel. The company was established by Raanan Cohen and Lior Sion.
Bringg specializes in digital transformation for delivery, offering a platform that helps enterprises optimize and grow their last-mile delivery operations. Their solutions include multi-carrier management and fleet and driver management.
With a team of 51-200 employees, Bringg continues to support leading brands across various industries, driving efficiency and customer satisfaction through their innovative Delivery Orchestration Platform.
How Much Funding Has Bringg Raised?
- Seed Funding Round
- Amount Raised: $2.5 million
- Date: Prior to December 2015
- Lead Investors: ITURAN
- Motivation Behind the Round: Initial development and scaling of the platform to attract early customers and establish a market presence.
- Series A Funding Round
- Amount Raised: $5 million
- Date: December 2015
- Lead Investors: ITURAN and a new U.S.-based strategic investor
- Motivation Behind the Round: To scale the team, expand development efforts, add new features, and grow marketing and sales force.
Total Amount Raised: $7.5 million
Current Valuation: Over $1 billion
Key Investors
- ITURAN
- Details: ITURAN is a fleet-management company that has been a key investor in Bringg since its seed funding round. The company specializes in providing location-based services and fleet management solutions.
- Investment Focus Areas: Fleet management, telematics, vehicle tracking
- Notable Investments: Bringg, Pointer Telocation, Mobileye
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. They aim to accelerate the growth of innovative companies in the Salesforce ecosystem.
- Investment Focus Areas: Cloud computing, enterprise software, artificial intelligence
- Notable Investments: Zoom, DocuSign, Twilio
- Viola Growth
- Details: Viola Growth is a venture capital firm that invests in growth-stage technology companies. They focus on helping companies scale and achieve significant market impact.
- Investment Focus Areas: SaaS, fintech, cybersecurity
- Notable Investments: Payoneer, Outbrain, SimilarWeb
- Next47
- Details: Next47 is a global venture firm backed by Siemens, investing in startups that are shaping the future of industry. They provide both capital and strategic support to their portfolio companies.
- Investment Focus Areas: Industrial technology, automation, energy
- Notable Investments: Verkada, Markforged, Augury
- Insight Partners
- Details: Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies. They have a strong track record of helping companies scale.
- Investment Focus Areas: Software, internet, data
- Notable Investments: Shopify, Qualtrics, Twitter
What's Next for Bringg?
Bringg stands at the cusp of significant growth opportunities, particularly in the enterprise market. With the increasing demand for on-demand delivery services, large retailers and service providers are eager to offer Uber-like experiences. This opens up vast potential for Bringg to integrate its real-time tracking and communication tools with existing systems, expanding its footprint in international markets.
Future fundraising efforts are likely to focus on scaling operations and development, attracting strategic investors who are also customers. However, Bringg will face challenges such as competition from established giants like Amazon and Uber, and the need to convince large enterprises to adopt their technology while maintaining service quality across multiple countries.
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