Key Takeaways
- • Reeco, an AI-powered hospitality procure-to-pay platform, closed a $15 million Series A funding round, bringing total funding to $25 million (including a prior $10 million seed round).
- • Lauren Lontine appointed as Vice President of Sales, bringing enterprise sales and go-to-market expertise from prior roles at Otelier and other high-growth SaaS organizations.
- • The funding positions Reeco to accelerate platform development and scale go-to-market operations across its hospitality customer base of 1,000+ properties.
- • Reeco's Series A capital will fuel strategic growth initiatives, including advancement of its procure-to-pay platform capabilities and expansion of its partner ecosystem.
Summary
Reeco, an AI-driven procure-to-pay platform serving the hospitality industry, has secured $15 million in Series A funding, marking a significant milestone in the company's capital trajectory. The investment brings Reeco's total funding to $25 million, building on a $10 million seed round closed earlier. The platform serves over 1,000 hotel properties and streamlines core purchasing workflows including procurement, receiving, inventory management, accounts payable automation, and recipe costing.
The Series A capital will fuel Reeco's expansion across multiple strategic fronts. The company plans to accelerate advancement of its core platform capabilities while simultaneously scaling its go-to-market operations and deepening its partner ecosystem. This dual focus reflects management's intent to address both product innovation and revenue growth as hospitality operators increasingly adopt technology-driven procurement solutions.
In conjunction with the funding announcement, Reeco appointed Lauren Lontine as Vice President of Sales, a key hire underscoring the company's commitment to commercial acceleration. Lontine previously led revenue strategy and enterprise growth initiatives at Otelier, a hotel management software provider, and brings extensive SaaS sales leadership experience including enterprise sales execution and revenue team scaling. According to CEO Henrik Shimony, Lontine's appointment is central to Reeco's broader expansion strategy to build depth and capacity across sales and customer success organizations. Lontine holds a bachelor's degree from Harvard and an MBA from the University of Denver's Daniels College of Business.
The Series A capital will fuel Reeco's expansion across multiple strategic fronts. The company plans to accelerate advancement of its core platform capabilities while simultaneously scaling its go-to-market operations and deepening its partner ecosystem. This dual focus reflects management's intent to address both product innovation and revenue growth as hospitality operators increasingly adopt technology-driven procurement solutions.
In conjunction with the funding announcement, Reeco appointed Lauren Lontine as Vice President of Sales, a key hire underscoring the company's commitment to commercial acceleration. Lontine previously led revenue strategy and enterprise growth initiatives at Otelier, a hotel management software provider, and brings extensive SaaS sales leadership experience including enterprise sales execution and revenue team scaling. According to CEO Henrik Shimony, Lontine's appointment is central to Reeco's broader expansion strategy to build depth and capacity across sales and customer success organizations. Lontine holds a bachelor's degree from Harvard and an MBA from the University of Denver's Daniels College of Business.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.