Israel-based logistics management platform developer Bringg secured $30m yesterday in a series D round featuring logistics property manager GLP, industrial technology producer Siemens and enterprise software provider Salesforce.
Growth capital fund Viola Growth led the round, which included OG Tech Ventures, the VC arm of holding company Ofer Global, while Siemens and Salesforce invested through corporate VC subsidiaries Next47 and Salesforce Ventures.
Bringg provides software that enables large companies to more efficiently manage complex delivery operations in real time. Its business has been heavily boosted by the Covid-19 pandemic, and it said its delivery volumes have increased 24% in the past week alone.
Guy Bloch, chief executive if Bringg, said: “Enterprises we have 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.
“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.”
The round took Bringg’s total funding to $83.3m, the company said. Fleet management technology provider Ituran was among the investors in its $5m series A round in 2015.
The series A was followed by a series B round featuring Salesforce Ventures, beverage producer Coca-Cola, Aleph VC, Pereg Ventures, Ofer Global owner Eyal Ofer and fellow private investor Shmuel Harlap that closed at $22m in early 2018.
Bringg subsequently raised $25m in a January 2109 series C round featuring Salesforce Ventures, Next47, Coca-Cola, Ituran, Pereg Ventures, Aleph VC, OG Tech Ventures and Cambridge Capital.
