The Israeli delivery logistics platform for enterprises Bringg today announced a $12 million financing round from strategic partners.
The current round includes automotive leader Dr. Shmuel Harlap, shipping and real estate magnate Eyal Ofer.
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Harlap, the general manager of Israeli car importer Colmobil (Mercedes, Hyundai, Mitsubishi). He was one of the first and largest investors in Mobileye and held about 7 percent of the company, which after the sale made Intel a $1 billion profit.
Ofer, the shipping tycoon (a partnership with the world’s second largest caravan company, Royal Caribbean) and real estate, considered one of the two richest Israelis in the world.
In addition to Israeli investors, Salesforce Ventures, the software giant’s holding arm, also took part. The company has 60 employees at the Tel Aviv Development Center and offices in New York and Chicago.
Bringg’s platform enables both small and large companies to manage their shipments accurately and optimally while allowing their customers to track the location of shipments in real time.
To do this, the company’s system can interface with the organization’s CRM systems, inventory management systems, e-commerce systems, and its proprietary delivery system or delivery company.This way, customers benefit from a single interface that controls all stages of shipping – from finding inventory, locating and operating the free courier, to coordinating the mission and updating the customer in real time on the location of the shipment. The system is running in the cloud in the SaaS model.
Bringg’s delivery logistics platform is used by leading retail, ecommerce, food, services and logistics providers in over 50 countries, including some of the world’s best-known brands such as Coca-Cola, Kimberly Clark, Panera Bread, Cdiscount and Hilti. With offices in Chicago, New York and Tel Aviv, the company plans to leverage the funding to address the growing demand for its solution by increasing its international reach and expanding teams across the company.
Bringg was founded in 2013 under the name of Overvyoo by Raanan Cohen, who serves as CEO and previously founded MobileMax, and Lior Sion, former technology vice president of Gett. The current $12 million financing round joins the previous $ 10 million raised by the company in its B round – bringing the company’s total fund raising since its inception to $22 million.
Raanan Cohen, Co-Founder & CEO of Bringg said: “The $23 trillion ecommerce industry is ripe for disruption, and we’re on a mission to help the world’s most loved brands remain competitive. We are excited to have Dr. Harlap, Eyal Ofer’s O.G. Tech Ventures and Salesforce Ventures as partners in the business to support our growth, and help us fulfill our mission to enable enterprises worldwide to modee-commerceir delivery infrastructure and improve their operational efficiency.”
“Salesforce Ventures is committed to investing in technology that extends our offerings and makes our customers even more successful,” said Alex Kayyal, EMEA Head, Salesforce Ventures. “As a leading delivery logistics platform, Bringg will help our customers create more competitive delivery ecosystems that result in faster, more affordable deliveries for their customers.”
