The funding helps the company achieve unicorn status. Here are the top-line bullets you need to know.
Bringg, a logistics technology platform, has raised $100M in a Series E that drew participation from Insight Partners, Salesforce Ventures, Viola Growth, and Next47, among others.
HOW’S THE COMPANY PERFORMING?
- Israel-based Bringg is a cloud-based delivery and fulfillment platform for retailers and logistics providers. Its products focus on last-mile delivery, fleet management, third-party delivery management, and more.
- The company has reportedly witnessed a growth of 180% in new customers over the past year. Bringg has clients across 50 countries, including brands like Walmart, Albertsons, Coca-Cola, and Panera.
- It employs 200 people across offices in Israel, the US, the UK, and Brazil.
WHY DOES THE MARKET MATTER?
- The global logistics market is projected to grow at a CAGR of 6.5% and reach a value of $7.641T by 2027, according to Allied Market Research.
- The pandemic accelerated the growth of online retail in 2020 and drove an increase in demand for consumer packaged goods, medical supplies, and other consumer goods.
- The global supply chain and logistics technology segment witnessed more than 400 deals as of July 2020.
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