Bringg, a logistics management platform for grocery, foodservice, and other industries, has raised $100 million in Series E funding.
New York-based Insight Partners led the round, with seven of the startup’s existing investors — Cambridge Capital, GLP, Next47, Pereg Ventures, Salesforce Ventures, Viola Growth, and automotive magnate Shmuel Harlap — also participating.
Bringg said in a statement that the round takes its market valuation above $1 billion, making it “the first and only unicorn in last-mile delivery and fulfillment cloud technology.”
By collecting large amounts of data, Bringg’s technology allows brands, retailers, and logistics providers to optimize their fulfillment and delivery operations. Its wide-ranging product suite enables on-demand delivery — by helping clients connect more efficiently with their own drivers or third-party services — as well as ‘click and collect’ purchasing, fleet management, route optimization, and inventory oversight, among other things.
The startup was launched in Israel in 2013. It has main offices in Tel Aviv and Chicago, and works with enterprise customers in over 50 countries across the Americas, Europe, Africa, and the Middle East.
Its customers include US grocery retailers Albertsons and Walmart, as well as Co-op in the UK and Eroski in Spain; US foodservice chains KFC and Panera Bread; the McDonald’s master franchise holder in Latin America; and Coca-Cola. It has also partnered with food delivery apps such as DoorDash, Postmates, Uber, and Glovo.
Bringg claims that it experienced a 180% increase in new customer growth last year, as the Covid-19 pandemic shifted consumer habits towards at-home dining and online grocery shopping.
“There’s no question that technology and innovation were necessary to help keep the world moving forward during an incredibly challenging time, and we are proud to have stepped up to the plate and continue to deliver,” CEO Guy Bloch said in a statement.
“We are honored by this vote of confidence from our investors and we’re looking forward to continuing to lead the last-mile revolution – reimagining the new world of delivery and fulfillment every day.”
To meet “increasing global customer and market demand,” Bringg plans to use the Series E funds to pursue M&A deals that will allow it to rapidly scale its platform, along with bringing more strategic and tech partners on board.
The startup’s last fundraise was its $30 million Series D round in April 2020.