Reeco Secures $25M in Funding Led by Aleph VC and Key Partners

Reeco, a platform for AI-powered procurement in the hospitality sector, has secured $15 million in Series A funding. The company now has $25 million in total capital thanks to the round, which was headed by Aleph VC and included participation from Joule Ventures and Net Capital Ventures.

Henrik Shimony and Omri Shalev launched the firm with the goal of revolutionizing hotel procurement by substituting a unified digital platform for old systems and manual methods. With Shalev's software engineering skills at Microsoft and Samsung and Shimony's knowledge in hotel operations, they were able to spot a big market gap: hotel procurement was still mostly done in analogue, whereas consumer purchasing had adopted digital alternatives.

"I could shop for groceries at home with the best tech available, but at the hotel, I was managing purchases in the hundreds of thousands with little technology or tracking," explained Shimony, Reeco's CEO. "From select-service hotels to full-service properties, the purchasing processes are stuck in the past."

Digital audits and real-time pricing are features of Reeco's unified platform, which integrates accounts payable, inventory management, and procurement for hotels. In just two years, the system has expanded 800%, catering to hundreds of hotels ranging from full-service to select-service establishments.