Bringg, a delivery and fulfillment platform used by Walmart, nabs $100M
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Delivery logistics and fulfillment platform Bringg today announced it has raised $100 million in a round of funding led by Insight Partners. The series E raise gives Bringg a valuation of $1 billion.
The raise comes as companies across just about every sector have been forced to change how they operate, with the retail industry in particular relying heavily on delivery and logistics infrastructure to continue trading during the pandemic.
“The pandemic has forced companies in all industries, and specifically the retail vertical, to pivot and quickly adapt to consumer expectations,” Bringg CEO Guy Bloch told VentureBeat. “Consumers are now heavily reliant on e-commerce deliveries and convenient options for pick up, and they are making purchase decisions based on how quickly they can receive orders.”
Founded in 2013, Bringg’s core raison d’être is to help businesses compete with Amazon. To do so, Bringg’s modular platform enables retailers of any size to pick-and-choose which tools they need, such as curbside pickup or last-mile delivery to ensure they can get their goods from their warehouse to the consumer by tapping into local logistics providers. This includes real-time tracking and intelligent routing to optimize the path from seller to buyer.
Above: Optimizing last-mile deliveries for retailers
The logistics companies themselves also benefit from Bringg, which provides the necessary tools to let recipients chedule and reschedule their own deliveries based on when they’ll be available to accept the goods, removing the burden from delivery drivers having to make repeat calls.
Ultimately, Bringg saves companies from having to develop their own delivery infrastructure in-house. The benefits this gives smaller companies is clear, but even larger businesses need what Bringg offers — after all, it counts major clients such as Walmart among its clients. Indeed, Walmart launched a last-mile delivery service called Spark back in 2018, with Bringg serving as its launch partner.
A couple of months back, Bringg also launched a new sustainability-focused initiative called BringgGreen, which is designed to help its customers — both retailers and logistics companies — meet any carbon reduction pledges they have made. This is particularly relevant to bigger companies with large footprints.
“Those that have made a commitment to a more sustainable supply chain can use Bringg to reduce carbon emissions with integrated and dedicated eco-efficient tech functionality, to measure, report, and improve their sustainability goals with defined KPIs and best practices,” Bloch said. “BringgGreen offers a competitive advantage for retailers and logistics providers to meet their sustainability goals.”
Priot to now, Bringg had raised around $85 million, and with its latest $100 million investment which included participation from existing investors such as Salesforce Ventures, Cambridge Capital, Next 47, GLP, Harlap, Viola Growth, and Pereg Ventures, the company said that it plans to fund its R&D efforts and explore potential mergers and acquisitions.
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