Reeco checks in with $10M for hotel supplies marketplace

Reeco, a marketplace connecting hospitality buyers and suppliers, has landed $10 million in seed funding.

The investment in the Israel-based company was led by Net Capital Ventures, Joule Ventures and One Travel Ventures while a number of angel investors also participated.

Reeco aims to help hotel and other hospitality providers with supply chain issues and make the ordering process for supplies easier.

The company matches buyers with the best local and/or national suppliers based on price availability and delivery date.

Reeco can also divide an order among a number of suppliers to ensure availability as well as the best prices.

Henrik Shimony, co-founder and CEO of Reeco, says: “Reeco was built for the unsung heroes of hospitality. As a hotelier who has worked in every role, from the front desk to the back office, the purchasing department was always the most neglected. This makes no sense, considering a hotel’s largest expenses are based here. When we built Reeco, our focus was always on providing the back office with the best service and meeting their needs first.”

Omri Shalev, co-founder and chief technology officer of the company, believes many back-office processes are still largely manual and can benefit from technology such as artificial intelligence. 

“We didn’t want to just create a seamless ordering and receiving experience — Reeco helps mitigate supply chain issues and food waste by using AI-driven insights into purchasing habits.”