Reeco, a Miami, Florida-based AI-driven procure-to-pay platform for the hospitality industry, has raised $15 million in Series A funding.
Investors
The round was led by Aleph VC, with participation from Net Capital Ventures and Joule Ventures, bringing Reeco’s total funding to $25 million.
Founded in 2013, Aleph VC is a venture capital fund with $850 million under management, focused on partnering with exceptional Israeli entrepreneurs to build large, meaningful companies and impactful global brands.
Reeco Use of Funds
The company plans to use the funding to fuel platform development, acquire new customers, and expand its team.
About Reeco
Founded by Henrik Shimony and Omri Shalev, Reeco offers an AI-driven procure-to-pay platform tailored for the hospitality industry. The platform simplifies hotel procurement by enabling seamless purchasing from contracted vendors, providing real-time food cost tracking, and automating inventory audits and invoicing processes.
Funding Details
Company: Reeco T.M Ltd.
Raised: $15.0M
Round: Series A
Funding Month: January 2025
Lead Investor: Aleph VC
Additional Investors: Net Capital Ventures, Joule Ventures
Company Website: https://www.reeco.io/
Software Category: Hotel Procurement
Source: https://www.prnewswire.com/news-releases/reeco-raises-15m-series-a-round-to-modernize-hotel-procurement-with-ai-driven-procure-to-pay-platform-302351873.html