- Delivery software startup Bringg raised more than $30 million in a fundraising round backed by Salesforce and Siemens’ investment wing Next47.
- Bank of America analysts have hyped the online delivery sector as being “on fire” due to COVID-19, with retail and logistics giant Amazon seeing sales jump 26% in the first quarter of 2020.
- Bringg’s customers are among the biggest companies in the world, including McDonald’s and Walmart.
- CEO Guy Bloch said some of Bringg’s clients had reported an 800% surge in online deliveries.
- We got an exclusive look at the pitch deck he used to bring investors on board.
- Visit Business Insider’s homepage for more stories.
Bringg, the Israeli delivery software startup, raked in more than $30 million in a fundraising round backed by the likes of Salesforce and Next47, the investment arm of Siemens.
Founded in 2013, Bringg counts major retail and restaurant players among its biggest customers around the world, including Walmart and McDonald’s, which use its software to coordinate deliveries.
Bringg specializes in helping traditional bricks and mortar outlets compete with retail giants like Amazon, by providing ready-to-use software, which allows them to easily track drivers and communicate with customers.
As COVID-19 puts paid to high-street shopping, CEO Guy Bloch told Business Insider he had seen a surge in demand for online deliveries – with some clients reporting an 800% jump month-on-month.
Amazon recently revealed its first-quarter sales had jumped 26% to $75.5 billion, with Bank of America analysts describing the wider sector as “on fire”.
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Failure to pivot to online deliveries has proven lethal to some firms, with the UK discount clothing store Primark’s monthly sales nosediving from £650 million to £0.
“As we slowly became more aware of the ways coronavirus was going to impact us, it really only gave our investors more reason to get involved,” said Bloch.
“The total switch to online has been coming for a while, but we are seeing that accelerated right now.”
We got an exclusive look at the pitch deck Bringg used to bring Salesforce and Next47 on board: