Reeco raises $15M Series A to modernize hotel procurement
Reeco raises $15M Series A to modernize hotel procurement
The Israeli startup’s AI-driven procure-to-pay platform unifies procurement, inventory, and accounts payable into a single system.
Reeco, which has developed an AI-driven procure-to-pay platform for the hospitality industry, announced on Wednesday that it has secured $15 million in Series A funding. The round was led by Aleph VC, with participation from Net Capital Ventures and Joule Ventures, this series bringing Reeco’s total funding to $25 million.
The funding will support research and development, customer acquisition, the scaling of sales and marketing teams, and the delivery of new platform features. Reeco’s platform frees the industry’s back-of-house teams from Excel sheets and punchout systems with a customized plug-and-play store that integrates with operators’ preferred vendors. It also digitizes inventory audits, enabling quick and accurate counts of products, including alcohol; introduces real-time pricing for food and supplies; and automates GL coding for accounts payable departments.
The hospitality industry has long relied on manual procurement processes and legacy systems that result in a cascade of challenges, including unreliable data, volatile pricing, ineffective inventory management, and fractured vendor relationships, which hold hospitality companies back from achieving operational peak performance for their stakeholders. Reeco’s AI-driven procure-to-pay platform eliminates these challenges by unifying procurement, inventory, and accounts payable into a single system.
Reeco was founded by Henrik Shimony and Omri Shalev. Shimony previously managed his family's hotel operations, while Shalev held engineering roles at Microsoft and Samsung.
“This Series A funding reflects strong investor confidence in our vision to revolutionize procurement in the hospitality space,” said Henrik Shimony, co-founder and CEO of Reeco. “We're witnessing unprecedented demand as operators recognize that modernizing their procurement and back-of-house operations is no longer optional — it's essential to remain competitive in today's market. With this funding, we're enhancing our platform development to meet growing demand, expanding our technological capabilities while maintaining the exceptional service our customers rely on to transform their operations.”
