Logistics management startup Bringg has raised $10 million of new funding as it looks to grow marketing and sales efforts and expand Its platform into new markets.
Bringg helps retailers, consumer products firms and others streamline their delivery ecosystem and last-mile efforts, with several hundred customers throughout more than 50 countries, including third-party or fourth-party logistics and delivery companies, full delivery chains, parcel delivery services, food delivery services and others. Businesses pay for Bringg via volume-based pricing, according to TechCrunch.
Aleph VC led the new Series B round, which also involved Coca-Cola (a Bringg customer) and previous investor Pereg Ventures. The financing followed earlier investments from Ituran and Cambridge Capital. In addition to propelling new marketing plans, Chicago-based Bringg will use some of the money to expand R&D.
Bringg has arrived on the scene as many retailers and delivery companies are looking to modernize and revamp their delivery capabilities on the customer end to encourage more positive customer experiences, and at the same time trying to look for opportunities to optimize operational processes and save money on the supply chain end of delivery capabilities.
Each may give their own reasons for wanting to pursue those projects, but the one thing they all have in common whether they say so or not is that they all want to be more like Amazon. The e-commerce giant has shown the competitive value of getting logistics right, both in terms of the infrastructure choices it makes and the delivery options it offers customers. As Raanan Cohen, co-founder and CEO of Bringg said in a statement, "Amazon raised the standards when it comes to delivery, [and] we provide the tools that enable any company to match their logistics excellence."
Bringg brings these tools to bear in the form of a dashboard-driven platform that can scale and integrate with existing logistics operations through APIs and software development kits. While a lot of the companies that might want to leverage that platform are retailers looking to revamp their logistics approaches, there are also an increasing number of consumer products brands out there that may want to get into the delivery game, yet don't know the first thing about it.
A lot of those brands might consider handing everything over to Amazon or UPS or a similar giant, but Bringg may have the goods to allow them to keep their logistics capabilities under their own control, while presenting them with ways to improve efficiency and cost by using different delivery companies for different needs. No company would want to jump into such complex arrangements without being sure they can manage it all, but that is what Bringg is pledging to help them do.