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Bringg closes out a Series E funding round with $100 milllion, led by Insight Partners and additional seven other existing investors. This latest round brings the total market valuation of the tech company to $1 billion. Bringg plans to put the investment money towards scaling the platform through mergers and acquisitions, in turn increasing market demand.
Per PR Newswire:
- The delivery and fulfillment industry has undergone a complete transformation over the last 18 months due to the COVID-19 pandemic and has increased the needs and expectations of consumers globally. As a result, demand for Bringg's platform exploded with 180% year-over-year new customer growth.
"There's no question that technology and innovation were necessary to help keep the world moving forward during an incredibly challenging time, and we are proud to have stepped up to the plate and continue to deliver," said Guy Bloch, CEO at Bringg. "We are honored by this vote of confidence from our investors and we're looking forward to continuing to lead the last-mile revolution - reimagining the new world of delivery and fulfillment every day."
