Reeco Secures $15M in Series A Funding to Enhance AI-Driven Procure-to-Pay Platform for Hospitality
Reeco empowers hospitality operators to cut costs, improve efficiency, and enhance profit margins through its AI-driven platform.
Company Name: Reeco
Location: Miami, FL
Industry: AI-Powered Hospitality Procurement
Funding Details:
Amount: $15M (Series A)
Investors: Aleph VC (Lead), Net Capital Ventures, Joule Ventures
Total Funding: $25M (including $10M Seed Round)
Purpose of Investment:
The funds will support Reeco’s strategic growth initiatives, including the accelerated advancement of its AI-driven platform.
Leadership:
CEO: Henrik Shimony
CTO: Omri Shalev
Product:
Reeco’s procure-to-pay platform streamlines hospitality operations by connecting procurement, inventory, and accounts payable. Key features include:
- Vendor Management: Allowing users to purchase from any contracted vendor and manage goods.
- Recipe Tracking: Monitoring real-time food costs for better financial oversight.
- Automation: Enabling automated inventory audits and invoicing to save time and reduce errors.
About the Company:
Reeco empowers hospitality operators to cut costs, improve efficiency, and enhance profit margins through its AI-driven platform. By integrating procurement and back-of-house operations, it delivers comprehensive solutions for the unique challenges of the hospitality industry.
With its Series A funding, Reeco is poised to scale its platform and expand its impact, driving innovation and efficiency across the hospitality sector.
