Bringg announces $12 million in funding from Salesforce and partners
Last-mile logistics firm says it will use investment to expand its international reach.
Last-mile logistics delivery platform Bringg Delivery Technologies Ltd. said Tuesday that it has raised $12 million in capital that it will use to expand its international reach and add employees to handle growing demand.
This round of investment comes from Salesforce Ventures, the investment arm of cloud-based enterprise resource planning (ERP) software vendor Salesforce, as well as individual investors Eyal Ofer and Shmuel Harlap. It follows a $10 million venture investment made in 2017 by The Coca-Cola Company and other partners, according to Chicago-based Bringg.
Bringg said its services help users improve the efficiency of parcel delivery operations and compete with Amazon.com Inc.'s logistics prowess, for clients in the retail, grocery, restaurant, consumer goods, logistics, healthcare, and services industries.
"Salesforce Ventures is committed to investing in technology that extends our offerings and makes our customers even more successful," Alex Kayyal, EMEA head for Salesforce Ventures, said in a statement. "Bringg will help our customers create more competitive delivery ecosystems that result in faster, more affordable deliveries for their customers."
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