Reeco offers an AI-driven procure-to-pay platform that unifies purchasing, receiving, inventory, recipe management, and accounts payable into a single system for the hospitality industry. The platform enables users to purchase from contracted vendors in a few clicks, manage recipes to track real-time food costs, and connect recipes with point-of-sale systems to reveal real-time margins. Its AI-powered smartphone app speeds receiving and inventory audits (cutting counting time by about 50%) and the accounts-payable tools automate GL coding and sync with preferred accounting systems. Reeco emphasizes eliminating spreadsheets, supplier portals, and manual data entry to reduce errors and drive operational efficiency across back-of-house teams. The company plans to use new funding to accelerate platform development, expand technical capabilities, scale sales and marketing, and deliver new product features. Financially, Reeco has raised $15M in this Series A on top of a $10M seed, and it reports 800% adoption growth in less than two years across hundreds of customers. Reeco operates a marketplace that connects hospitality buyers and suppliers to streamline procurement for hotels and other hospitality businesses. Buyers select needed products and orders are automatically matched with the optimal supplier from hundreds of top local and national suppliers based on price, availability, and delivery dates. The platform is used to address challenges such as supply shortages, food waste, and overspending on fast-moving goods. Customers include Playa Largo Resort – Autograph Collection, Hilton Aventura, The Even Hotel, management company Shaner Hotel Group, and hotels from Marriott and Ramada. Led by CEO Henrik Shimony, Reeco added Miami, Florida as its U.S. headquarters in 2022 while remaining Tel Aviv–based. The company raised $10M in seed funding to expand operations and broaden its business reach.

Total raised

$25M

Funding rounds

2

Latest round

Series A

Latest activity

Jan 2025