MIAMI, Florida—Reeco introduced it secured $15 million in Sequence A funding. This funding will gasoline the corporate’s development initiatives, together with the development of the Reeco platform. The answer permits the business’s back-of-house groups to cease utilizing Excel sheets, punchout techniques, and GL coding with a unified system that integrates features. Customers should purchase from any contracted vendor and obtain items shortly, handle recipes to trace real-time meals prices, and automate stock audits and invoicing. The Sequence A funding builds on a $10 million seed spherical, bringing Reeco’s complete funding to $25 million.
“This Sequence A funding displays robust investor confidence in our imaginative and prescient to revolutionize procurement within the hospitality house,” stated Henrik Shimony, co-founder and CEO of Reeco. “We’re witnessing unprecedented demand as operators acknowledge that modernizing their procurement and back-of-house operations is not elective—it’s important to stay aggressive in at present’s market. With this funding, we’re enhancing our platform growth to satisfy rising demand, increasing our technological capabilities whereas sustaining the distinctive service our clients depend on to remodel their operations.”
The spherical was led by Aleph VC with participation from Web Capital Ventures and Joule Ventures. The funding will help analysis and growth, buyer acquisition, scale of gross sales and advertising groups, and the supply of latest platform options.
“Reeco advantages from a charismatic founding group with deep area experience and a robust pull from the market,” stated Tomer Diari, normal associate, Aleph. “It’s already demonstrated robust product-market match and is positioned to remodel one of many largest sectors in our financial system. We’re extremely impressed by what the Reeco group has completed and are excited to associate with them and help their journey.”
The hospitality business has relied on handbook procurement processes and legacy techniques that lead to challenges, together with unreliable information, unstable pricing, ineffective stock administration, and fractured vendor relationships, which maintain hospitality firms again from attaining operational efficiency for stakeholders.
Reeco’s AI-driven procure-to-pay platform eliminates these challenges by unifying procurement and receiving, stock, recipe administration, and accounts payable right into a single system to save lots of great time and prices. Customers should purchase meals and provides primarily based on real-time pricing and with one cart, integrating all their most popular suppliers. Groups can use the AI-powered smartphone app to obtain and audit stock, scan bottles for accuracy, and lower counting time by 50 %. Meals and beverage groups can construct and handle recipes with the AI-powered ingredient database; they join recipes with point-of-sale techniques to disclose real-time meals prices and determine cost-saving alternatives. The accounts payable resolution automates GL coding primarily based on the property’s coding patterns and syncs with AP’s most popular accounting system. The platform brings effectivity to the method and transforms how hospitality firms handle their operations.
“Reeco is the one platform that connects buying, receiving, recipe administration, stock management, and accounts payable,” stated Omri Shalev, co-founder and CTO, Reeco. “By utilizing these modules on the Reeco platform, motels can lastly get rid of information silos, ditch their Excel spreadsheets, and cease toggling between provider portals and paper kinds. Gone are the times of handbook information entry, scattered paper trails, and leaping between a number of provider web sites. Any group member—from government cooks to controllers—can shortly grasp the system and begin optimizing their operations instantly.”
