Reeco Raises $15 Million in Series A Funding

Reeco, an AI-driven procurement platform for the hospitality industry, has raised $15 million in Series A funding, bringing its total funding to $25 million. The round was led by Aleph VC with participation from Net Capital Ventures and Joule Ventures. The company aims to transform outdated manual procurement processes by offering a unified, efficient platform that integrates procurement, inventory management, and accounts payable. Co-founder and CEO Henrik Shimony stated that this funding reflects strong investor confidence and highlights the urgent need for modernization in hotel operations. The funds will be used for research and development, customer acquisition, and expanding sales and marketing efforts. Reeco's technology addresses challenges such as unreliable data and fragmented vendor relationships, which have long hindered the hospitality sector.