Reeco

growth-positive

Reeco, a startup specializing in AI-powered procurement management for hotels, has announced the appointment of two new executives: Naama Engel as Vice President of Human Resources and Guy Ben-Bassat as Vice President of Finance. Engel brings extensive HR leadership experience from her previous roles at Travelier Group, WeissBeerger, and Amdocs. Ben-Bassat has a strong finance background with experience at Growthspace, Yotpo, and Nova. Reecos platform enhances hotel procurement processes and is utilized by various hospitality professionals. Founded in 2022, the company has raised $25 million from investors such as Aleph, Net Capital, and Joule Ventures, and operates in multiple regions including the U.S., Israel, Europe, and Central America.

growth-positive

Reeco, an Israeli startup, has developed an AI-driven procure-to-pay platform aimed at the hospitality industry. The company recently secured $15 million in Series A funding led by Aleph VC, with participation from Net Capital Ventures and Joule Ventures, bringing its total funding to $25 million. The funding will be used to enhance research and development, acquire new customers, scale sales and marketing teams, and deliver new platform features. Reecos platform aims to modernize procurement processes in the hospitality sector by unifying procurement, inventory, and accounts payable into a single system, addressing challenges such as unreliable data and volatile pricing.

growth-positive

Reeco, a marketplace connecting hospitality buyers and suppliers, has raised $10 million in Seed funding. The funding round was led by Net Capital Ventures and Joule Ventures. Reecos AI-powered marketplace streamlines the ordering process for hotels and other hospitality buyers, reducing costs and checking product availability. The company matches orders with optimal suppliers based on price, availability, and delivery dates. Reecos customers include Playa Largo Resort - Autograph Collection, Hilton Aventura, The Even Hotel, Shaner Hotel Group, Marriott, and Ramada. The funding will help Reeco mitigate supply chain issues and food waste by using AI-driven insights into purchasing habits.