By Jeff Berman, Group News Editor · April 13, 2020
Chicago-based Bringg, a provider of a delivery orchestration platform and related services, recently announced it closed a $30 million series D funding round, which was led by technology growth capital fund, Viola Growth.
Company officials said that the focus of this round is geared towards businesses across different verticals keep pace with what they called rapidly expanding delivery momentum. And they added that Bringg’s total funding, to date, is now at $83.3 million, which Bringg said is enabling global market expansion for large enterprises and SMBs.
Bringg added that as the coronavirus, or COVID-19, pandemic continues, it has resulted in levels of adoption, in just a few weeks, was previously expected to take multiple years, as evidenced by a 24% uptick in week-to-week customers delivery volumes, for the first week of April. What’s more, the company said that many verticals, including restaurants, grocers, retails, and logistics services providers, have faced challenges in meeting demands with existing logistics operations and drivers, a situation, it explained, Bringg’s Delivery Logistics platform can be of service, through the orchestration, management, measuring, and tracking of their delivery ecosystem for companies using both, or a pairing of, in-house fleets and third-party providers.
“Enterprises we’ve spoken to were always aware that a big market shift was coming, but in a matter of only a few weeks that shift has fully arrived and almost everyone has been caught off guard,” said Bringg CEO Guy Bloch in a statement. “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.”
Bringg’s Bloch told LM that this new round of funding will help Bringg to expand its reach and grow global market share of both large enterprise and SMB customers, adding that the company’s platform caters to various types of businesses it is helping them navigate, successfully, the shift to the delivery economy.
When asked what future plans are for Bringg, in addition to these rounds of funding, Bloch said that the company is constantly innovating when it comes to Bringg’s offerings.
“That’s always part of our plans, but the main goal is further adoption,” he said. “We know that businesses, from the very largest enterprises, to the small mom and pop shops need to ride the delivery wave if they are going to survive not just now, but into the future. For large enterprises, that means providing a highly customizable and sophisticated solution that allows for complete control of a world-class delivery experience and a direct relationship to the customer, whether they choose to deploy fleets or take things in house. And for smaller players, it means getting the word out that we’re offering a free solution that will allow them to handle delivery on their own and connect to fleets. Along that journey, as we continue to grow, we will also certainly be looking to expand our employee base internationally.”
Addressing the key steps, or measures, that Bringg CEO Bloch said are needed to keep up with the pace of adoption, Bloch explained that every major enterprise Bringg speaks to has plans to shift to delivery, with the caveat that COVID-19 has expedited those plans dramatically.
“Never has there been a time in history where delivery services and logistics were as critical as they are now, keeping our world running amidst a crisis situation,” he said. “In order to keep pace with this shift, businesses of all sizes must assess their current business models and determine how well they align with their customers’ expectations and competitors’ offerings. They will know their pain points and their industry, but moving over to data-driven delivery is essential to ensure the visibility and optimization necessary to compete and thrive in our new delivery reality.”
Bloch said that the three biggest benefits of the Bringg Delivery Logistics platform include: the ability to turn delivery into a data game so it can be optimized; maintaining and strengthening relationships with the customer that are lost when marketplaces are fully relied on; and A quick onboarding process for Bringg clients that allows the perfect customized solution to be deployed fast. For BringgNOW customers [SMBs] it’s the ability to be up and running, even with no preexisting delivery infrastructure or expertise, within minutes.
“The main evolution of Bringg took place with our launch of BringgNOW,” said Bloch. “There is a great divide between the haves and have-nots in delivery, and nowhere is that divide greater than between SMBs and the goliaths of the world. Until now, SMBs had few effective options to launch their own delivery or utilize fleets without losing their customers. BringgNOW expands our potential client base far beyond large enterprises and has us developing basic, out of the box tools that are incredibly effective.”
April 13, 2020