Bringg Announces $22 Million Series B Round Following Strong Deal Traction with International Brands

· Follow-up $12 million round, which includes automotive leader Dr. Shmuel Harlap, shipping and real estate magnate Eyal Ofer (via O.G. Tech Ventures), and Salesforce Ventures, will help further accelerate Bringg's international growth

· The world's best-known retailers, CPG companies, restaurant chains and logistics providers, including Cdiscount, Coca-Cola and Panera Bread, are already using Bringg's delivery logistics platform

News provided by

Bringg

Jan 16, 2018, 11:00 ET

TEL AVIV, Israel and CHICAGO, Jan. 16, 2018 /PRNewswire/ -- Bringg, the leading delivery logistics platform for enterprises, announced today that it has raised additional funding from strategic partners, bringing its Series B investment total to $22 million. The current $12 million round includes automotive leader Dr. Shmuel Harlap, shipping and real estate magnate Eyal Ofer, and Salesforce Ventures. The company received earlier investments from Aleph VC, Cambridge Capital, Coca-Cola, Ituran and Pereg Ventures.

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.

Customer demand for more convenient, faster and affordable deliveries is putting an unprecedented amount of pressure on companies. Bringg's technology enables customers to digitize their entire supply chain - creating a competitive delivery ecosystem that focuses on end-to-end operational efficiency and perfect customer experiences.

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 modernize their 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."

About Bringg

Bringg is a leading delivery logistics solution, providing enterprises with a highly efficient way to manage their complex delivery operations. Some of the world's best-known brands in more than 50 countries are already gaining clear strategic value from our powerful SaaS platform which offers them the real-time capabilities they need in order to achieve logistical excellence across their delivery ecosystem.

Companies from the retail, grocery, restaurant, consumer goods, logistics, healthcare and services industries trust Bringg's technology to help streamline their logistical operations for peak efficiency and create perfect delivery experiences for their customers. By using our platform, they can establish successful cost-effective operations that balance the needs of all the participants in the delivery ecosystem - from management at headquarters, through the teams in the field, and all the way to the end-customers who are at the heart of the entire process. For more information and to request a demo, please visit our website at: www.bringg.com.

About Salesforce Ventures

Salesforce, the global CRM leader, empowers companies to connect with their customers in a whole new way. Salesforce Ventures—the company's corporate investment group—invests in the next generation of enterprise technology that extends the power of the Salesforce Intelligent Customer Success Platform, helping companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world's largest cloud ecosystem and the guidance of Salesforce's innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce's expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 250 enterprise cloud startups in 14 different countries since 2009. For more information, please visit: www.salesforce.com/ventures.

About O.G. Tech Ventures

Launched in May 2017, as Eyal Ofer's Ofer Global group tech investment arm, O.G. Tech Ventures is a VC investing in the most exciting, early-growth stage startups either by leading investments or by co-investing alongside other professional investors. It has a full-time team on the ground in Israel led by a Managing Partner with over 15 years' experience and success in the tech sector and venture capital investments. With a single LP structure and a dedicated fund, it is committed to being a unique VC – combining long term investment perspective, leading cross-sector expertise and far-reaching global networks with a transparent process and a personal, agile, flexible approach to investments.

Contact:
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SOURCE Bringg