Bringg raises $30m and launches Bringg Now
Logistics technology provider Bringg has raised $30 million in a funding round and launched the free BringgNOW solution to support businesses as its delivery volumes increase rapidly.
The delivery orchestration platform received financial backing in a series D funding round led by Viola Growth which takes its funding total to $83.3 million to date. This latest financing will allow the company to expand its large enterprise and BringgNow SMB solutions and scale its workforce to help all businesses overcome their delivery challenges.
CEO Guy Bloch commented: “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.”
Eran Westman, Partner at Viola Growth, added: “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.
“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.”
With the outbreak of COVID-19, 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, according to the company.
In response, Bringg’s Delivery Logistics platform helps them by offering orchestration, management and tracking of businesses’ entire delivery ecosystems, whether they are using in-house fleets, third party providers, or both.
To further support businesses, the company has introduced BringgNOW, a last-mile delivery solution to immediately launch and scale delivery operations. Business owners can quickly load incoming orders, dispatch deliveries to their own drivers or crowdsourced fleets and deliver items to customers with a fully branded, real-time Uber-like experience.
Features offered with BringgNOW include onboarding solutions, simplified order creation and management, controlled fleet management and smart order dispatch.
While this solution was scheduled to be released later this year, Bringg made the decision to release early to aid businesses facing increased demand for delivery services, especially grocers, convenience stores and restaurants, as consumers look to reduce the spread of COVID-19.
The company offers business owners this out of the box solution for last-mile delivery management for free. The service will provide smaller businesses the ability to start, scale, and manage delivery operations to ensure a delivery experience comparable to that of leading food and retail businesses.