Reeco Raises $15 Million in Series A Funding Led by Aleph VC

Reeco, a leading AI-driven procure-to-pay platform for the hospitality industry, has successfully raised $15 million in a Series A funding round led by Aleph VC. This latest investment brings the company’s total funding to $25 million and marks a significant milestone in its mission to modernize hotel procurement.

The funds will be used to further develop Reeco’s technology, enhancing its capabilities to streamline procurement processes for hotels. The platform uses artificial intelligence to optimize supply chain operations, reduce costs, and improve efficiency for hospitality businesses.

“We are thrilled to have the support of Aleph VC as we continue to innovate and simplify procurement for the hospitality industry,” said Tomer Hazan, CEO of Reeco. “This investment will allow us to expand our services and reach more hotels seeking efficient, cost-effective solutions.”

Reeco’s platform has already gained traction with major hotel chains, helping them manage purchasing and payments more effectively. The company plans to use the new funding to scale its operations, expand into new markets, and continue refining its AI capabilities.

Aleph VC’s Managing Partner, Eden Shochat, expressed confidence in Reeco’s potential: “Reeco is transforming the way hotels handle procurement by providing a modern, efficient solution that addresses long-standing challenges. We believe in their vision and are excited to support their growth.”

With the growing demand for streamlined operations in the hospitality industry, Reeco is well-positioned to become a key player in the sector. The company remains committed to delivering innovative solutions that simplify procurement and contribute to the industry’s overall efficiency.