Reeco Secures $15 Million in Sequence A Funding

MIAMI, Florida—Reeco offered it secured $15 million in Sequence A funding. This investment will fuel the company’s growth initiatives, in conjunction with the advancement of the Reeco platform. The solution permits the industry’s abet-of-house teams to dwell the utilization of Excel sheets, punchout programs, and GL coding with a unified machine that integrates functions. Customers can purchase from any diminished in dimension vendor and receive goods fleet, organize recipes to trace exact-time food costs, and automate stock audits and invoicing. The Sequence A funding builds on a $10 million seed spherical, bringing Reeco’s total funding to $25 million.
“This Sequence A funding shows sturdy investor self belief in our vision to revolutionize procurement within the hospitality house,” stated Henrik Shimony, co-founder and CEO of Reeco. “We’re witnessing remarkable demand as operators acknowledge that modernizing their procurement and abet-of-house operations is no longer optional—it’s very crucial to dwell aggressive in this day’s market. With this funding, we’re making improvements to our platform constructing to fulfill increasing demand, expanding our technological capabilities whereas affirming the out of the ordinary provider our customers depend upon to remodel their operations.”
The spherical used to be led by Aleph VC with participation from Web Capital Ventures and Joule Ventures. The funding will enhance analysis and constructing, customer acquisition, scale of gross sales and advertising and marketing teams, and the provision of unique platform aspects.
“Reeco benefits from a charismatic founding workforce with deep arena ride and a sturdy pull from the market,” stated Tomer Diari, identical old associate, Aleph. “It’s already demonstrated sturdy product-market fit and is positioned to remodel certainly one of many last observe sectors in our economy. We are extremely impressed by what the Reeco workforce has performed and are excited to associate with them and enhance their tear.”
The hospitality industry has relied on guide procurement processes and legacy programs that result in challenges, in conjunction with unreliable records, volatile pricing, ineffective stock administration, and fractured vendor relationships, which withhold hospitality companies abet from reaching operational performance for stakeholders.
Reeco’s AI-driven gain-to-pay platform eliminates these challenges by unifying procurement and receiving, stock, recipe administration, and accounts payable into a single machine to attach wide time and charges. Customers can purchase food and affords in response to exact-time pricing and with one cart, integrating all their most popular suppliers. Groups can spend the AI-powered smartphone app to receive and audit stock, scan bottles for accuracy, and decrease counting time by 50 p.c. Food and beverage teams can invent and organize recipes with the AI-powered ingredient database; they join recipes with point-of-sale programs to show exact-time food costs and title price-saving alternatives. The accounts payable solution automates GL coding in response to the property’s coding patterns and syncs with AP’s most popular accounting machine. The platform brings effectivity to the process and transforms how hospitality companies organize their operations.
“Reeco is the finest platform that connects purchasing, receiving, recipe administration, stock alter, and accounts payable,” stated Omri Shalev, co-founder and CTO, Reeco. “By the utilization of these modules on the Reeco platform, hotels can at closing achieve away with records silos, ditch their Excel spreadsheets, and dwell toggling between vendor portals and paper kinds. Long gone are the days of guide records entry, scattered paper trails, and jumping between diverse vendor net sites. Any workforce member—from govt chefs to controllers—can fleet grasp the machine and open optimizing their operations without extend.”