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Reeco Raises $15M Series A Round to Modernize Hotel Procurement with AI-Driven Procure-to-Pay Platform

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Funding will drive Reeco’s strategic growth initiatives as it streamlines back-of-house operations for North American hotels

MIAMI, Jan. 15, 2025 /PRNewswire/ — Reeco, the leading AI-driven procure-to-pay platform for the hospitality industry, announced today it has secured $15 million in Series A funding. This investment will fuel the company’s strategic growth initiatives, including the accelerated advancement of the Reeco platform. The solution frees the industry’s back-of-house teams from Excel sheets, punchout systems, and GL coding with a unified system that seamlessly integrates every critical function. Users can purchase from any contracted vendor in just a few clicks and receive goods in record time, manage recipes to track real-time food costs, and automate inventory audits and invoicing. The Series A funding builds on a $10 million seed round, bringing Reeco’s total funding to $25 million. 

“This Series A funding reflects strong investor confidence in our vision to revolutionize procurement in the hospitality space,” said Henrik Shimony, co-founder and CEO of Reeco. “We’re witnessing unprecedented demand as operators recognize that modernizing their procurement and back-of-house operations is no longer optional — it’s essential to remain competitive in today’s market. With this funding, we’re enhancing our platform development to meet growing demand, expanding our technological capabilities while maintaining the exceptional service our customers rely on to transform their operations.”

The round was led by Aleph VC, with participation from Net Capital Ventures and Joule Ventures. The funding will support research and development, customer acquisition, the scaling of sales and marketing teams, and the delivery of new platform features.

“Reeco benefits from a charismatic founding team with deep domain expertise and a strong pull from the market,” said Tomer Diari, general partner at Aleph. “It’s already demonstrated strong product-market fit and is positioned to transform one of the largest sectors in our economy. We are highly impressed by what the Reeco team has accomplished and are excited to partner with them and support their journey.”

Reeco Builds on Record Growth as 2025 Begins

The hospitality industry has long relied on manual procurement processes and legacy systems that result in a cascade of challenges, including unreliable data, volatile pricing, ineffective inventory management, and fractured vendor relationships, which hold hospitality companies back from achieving operational peak performance for their stakeholders. The industry clearly needs a modern, transformative solution to move forward.

Reeco’s AI-driven procure-to-pay platform eliminates these challenges by unifying procurement and receiving, inventory, recipe management, and accounts payable into a single system to save tremendous time and costs. Users can purchase food and supplies based on real-time pricing and with one cart, integrating all their preferred suppliers. Teams can use the AI-powered smartphone app to quickly receive and audit inventory, scanning bottles for accuracy and cutting counting time by 50 percent. Food and beverage teams can build and manage recipes with the AI-powered ingredient database; they connect recipes with point-of-sale systems to reveal real-time food costs and identify cost-saving opportunities. The accounts payable solution automates GL coding based on the property’s coding patterns and syncs with AP’s preferred accounting system. The platform brings unprecedented efficiency to every step of the process and transforms how hospitality companies manage their operations.

“Reeco is the only platform that connects purchasing, receiving, recipe management, inventory control, and accounts payable,” said Omri Shalev, co-founder and CTO at Reeco. “By using these modules on the Reeco platform, hotels can finally eliminate data silos, ditch their Excel spreadsheets, and stop toggling between supplier portals and paper forms. Gone are the days of manual data entry, scattered paper trails, and jumping between multiple supplier websites. Any team member — from executive chefs to controllers — can quickly master the system and start optimizing their operations immediately.”

In less than two years, Reeco has achieved an 800% adoption growth rate, transforming operations for hundreds of customers, from full-service resorts to select-service properties.

“Before Reeco, I spent more than 20 years managing a disorganized and time-consuming procurement process that involved Excel sheets, calling our suppliers, checking our emails,” said Brian Archibald, Executive Chef at Playa Largo Resort & Spa, an Autograph Collection Hotel. “Reeco has completely changed how we operate. Hotel procurement, inventory auditing, recipe management — it’s all on one customized, consistent, and dependable platform that saves me and my team so much time and money, allowing me to spend more time being creative and less time chasing vendors.” 

Leading hotel operators Vision Hospitality, OTH Hotels Resorts, and Scarlett Hotel Group credit Reeco with improving profit margins and operational efficiency in purchasing, housekeeping, food and beverage, and maintenance and engineering.

“Reeco has completely modernized our accounts payable processes and saves us significant dollars in both operating costs and labor,” said Arlene McCullough, senior vice president of accounting at Vision Hospitality Group. “Before, our properties struggled with GL coding and managing blind spots across back-of-house operations. With Reeco, GL coding is automated. I have real-time visibility into spend, at the property and department level, without having to waste time and money searching for answers. Reeco’s AI and leading-edge technology improves efficiencies and drives margins across your portfolio. In today’s ultra-competitive marketplace, Reeco is a must-have.”

Founding the Future of Hotel Procurement

Reeco was born from the unique insights of Henrik Shimony and Omri Shalev. Shimony’s deep experience managing his family’s hotel operations and Shalev’s software engineering expertise from roles at Microsoft and Samsung revealed a critical gap: while consumer shopping had embraced digital solutions, hotel procurement was stuck in the past.

“Managing a hotel’s six-figure purchases with outdated tools made no sense,” Shimony said. “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. From select-service hotels to a full-service property, the purchasing processes are stuck in the past. That realization inspired us to build Reeco — a platform that gives hotels the same efficiency and transparency available in consumer shopping and so much more.”

About Reeco

Reeco is the leading AI-driven procure-to-play platform for the hospitality industry, transforming how hotels manage procurement, inventory, and accounts payable. As the only provider to bring purchasing, receiving, recipe management, inventory control, and accounts payable functionality together on one seamless platform, Reeco eliminates manual processes, streamlines operations, and empowers teams to focus on what they do best. By connecting every aspect of procurement and back-of-house operations, Reeco helps operators cut costs, increase efficiency, and improve profit margins. For more information, visit https://www.reeco.io/.

About Aleph VC

Aleph is a venture capital fund focused on partnering with great Israeli entrepreneurs to build large, meaningful companies and impactful global brands. Founded in 2013, Aleph is a partnership of Michael Eisenberg, Eden Shochat, Yael Elad, and Tomer Diari, with $850M under management. For more information about Aleph, visit https://www.aleph.vc/.

Media Contact:

Christopher Joseph (CJ) Arlotta
CJ Media Solutions, LLC for Reeco
C: 631-572-3019
E: 388759@email4pr.com 

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SOURCE Reeco

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Notice of Data Event

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November 3, 2026

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EAST LONGMEADOW, Mass., Nov. 2, 2026 /PRNewswire/ — Magnolia Management Company, LLC (“Magnolia”) is providing notice of a recent data privacy event that may have affected limited protected health information for certain individuals. On April 3, 2026, Magnolia became aware of unauthorized activity in one employee email account. Upon discovery, Magnolia took immediate action to secure its email environment and investigate the scope of the event, including hiring a third-party forensic investigation firm. Following a thorough review, Magnolia confirmed that a limited amount of information may have been accessed by an unauthorized individual. Magnolia undertook a comprehensive review of the impacted data to identify what type of information was contained therein, and to whom that information belonged. On August 10, 2026, that review was completed.

In response to this event, Magnolia also implemented additional technical safeguards to further enhance the security of information in its possession and with the aim of preventing similar events from happening in the future. While there is no evidence of actual or attempted misuse of any information as a result of this event, Magnolia will be providing impacted individuals with access to complimentary credit monitoring and identity protection services.

Magnolia takes the confidentiality of information in its care very seriously and regrets any inconvenience or concern caused by this event. If you have any questions, please call our dedicated assistance line at 833-918-4065, Monday – Friday, 8 am – 8 pm CT, excluding major U.S. holidays.

Individuals are encouraged to remain vigilant against events of identity theft by reviewing credit reports, account statements, and explanation of benefits forms for suspicious activity and to detect errors.

Individuals may place a fraud alert or credit freeze by contacting the credit reporting agencies: TransUnion 1-800-680-7289, P.O. Box 2000 Chester, PA 19016, transunion.com; Experian 1-888-397-3742, P.O. Box 9554 Allen, TX 75013, experian.com; Equifax 1-888-298-0045, P.O. Box 105069 Atlanta, GA 30348, equifax.com.

Individuals can further educate themselves regarding identity theft, fraud alerts, credit freezes, and steps to protect their personal information by contacting the credit reporting bureaus, the Federal Trade Commission, or their state attorney general. The FTC may be reached at 600 Pennsylvania Ave. NW, Washington, D.C. 20580; www.identitytheft.gov; 1-877-ID-THEFT (1- 877-438-4338); and TTY: 1-866-653-4261. Instances of known or suspected identity theft should also be reported to law enforcement, your state attorney general, and the FTC.

View original content:https://www.prnewswire.com/news-releases/notice-of-data-event-302927076.html

SOURCE Magnolia Management Company, LLC

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Arrowpoint Investment Partners Selects Arcesium to Scale Asia-Focused Multi-Strategy Platform

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November 3, 2026

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Asia-focused multi-strategy investment firm uses Arcesium’s Opterra™ investment lifecycle management platform to efficiently scale complex multi-manager, multi-asset strategies  

SINGAPORE, Nov. 3, 2026 /PRNewswire/ — Arrowpoint Investment Partners (“Arrowpoint”), an investment firm building an Asia-focused, multi-strategy platform, today announced that it has partnered with Arcesium, a leading global financial technology provider to the investment industry. Arrowpoint is leveraging Arcesium’s intelligent data management and operational platform, Opterra, along with its industry expertise and managed services, to scale its sophisticated, multi-asset investment strategies. Equipped with industry-leading technology, Arrowpoint is able to onboard new managers quickly and drive competitive edge across multiple asset classes and investment strategies as the platform scales.

“Using Arcesium’s technology and operational platform enables us to achieve efficient and scalable growth through our Asia-focused strategy,” said Woon Young Jeong, Chief Operating Officer of Arrowpoint. “The company’s pedigree of working with large multi-strategy firms, its managed services’ global coverage, and its intelligent technology made it the right partner to support our goals. Arcesium’s deep capabilities within the hedge fund ecosystem mean our portfolio managers can quickly deploy and scale new strategies, supported by operational infrastructure capable of matching our growth ambitions.”

Founded in 2024 by a former Millennium Asia co-CEO, the Singapore-headquartered firm manages $2 billion in funds, has a presence in Hong Kong and Dubai, and oversees 24 portfolio managers across Asia and the Middle East. As Arrowpoint grows and manages investment activity across multiple asset classes, the firm’s priority was to find an agile technology partner that meets rapid workflows and processes, while harmonizing large volumes of data.

Chris Barrow, Head of Revenue for EMEA & APAC at Arcesium, commented on the announcement: “We are delighted to partner with Arrowpoint as one of the most sophisticated and high-profile launches we’ve seen in Asia. Since opening the Arcesium office in Hong Kong earlier this year and expanding our presence in the region, we are quickly gaining momentum with other hedge funds and asset managers and are tapping into the vibrant market interest in Hong Kong and Singapore. Partnering with such a high-caliber client like Arrowpoint is a key milestone and we look forward to enabling the firm to scale in new directions with the support of our technology and managed services.”

Arcesium’s Opterra is a front-to-back investment lifecycle management platform that fits the unique operating environments of hedge funds, enabling optimized capital efficiency, increased productivity, and reduced operational risk. This partnership underscores Arcesium’s continued momentum in the APAC region as more firms look to modernize their technology infrastructure and scale with confidence.

ENDS

About Arcesium:

Arcesium© is a global financial technology company delivering front-to-back technology solutions for some of the world’s most sophisticated financial institutions, including hedge funds, asset managers, private markets, sell side, and digital assets firms. Expertly designed to achieve a synchronized golden source of data throughout a client’s ecosystem, Arcesium’s cloud-native technology is built to systematize the most complex workflows and help clients achieve scale.

Today, Arcesium services over $6.7T in gross AUM and over $1.2T in sell-side capital balances and has modelled over 178 million investments to date. Arcesium was built from a platform developed and tested by investment and technology development firm, the D. E. Shaw group, and launched as a joint venture with Blackstone Multi-Asset Investing. J.P. Morgan, another large client, later made a strategic investment in the company, helping Arcesium further its mission: to power the entire investment lifecycle. Arcesium currently has a staff of over 2,600 software engineering, accounting, operations, and treasury professionals.

For more information about Arcesium and its capabilities, visit www.arcesium.com and follow the firm on LinkedIn.

 
About Arrowpoint Investment Partners:

Arrowpoint is an investment firm building a differentiated Asia-focused, multi-strategy platform. Learn more at https://arrowpointfund.com/

Arcesium Media Contact:

Ivy Gitarts
Aspectus Group
Ivy.Gitarts@aspectusgroup.com
 

Arrowpoint Investment Partners Media Contact:
media@arrowpointfund.com

 

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SOURCE Arcesium

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From targets to projects: Solar & Storage Live and EVCharge Live Indonesia 2026 focus on infrastructure delivery

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November 3, 2026

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Two co-located events will bring together 5,000+ attendees, 120+ speakers and 100+ sponsors and exhibitors in Tangerang this month to explore Indonesia’s next phase of solar, energy storage, electric vehicle charging and infrastructure development.

TANGERANG, Indonesia, Nov. 3, 2026 /PRNewswire/ — As Indonesia accelerates its solar energy ambitions and expands its electric vehicle charging ecosystem, attention is increasingly turning to the infrastructure, financing and technologies needed to translate national targets into projects on the ground.

These priorities will take centre stage at Solar & Storage Live Indonesia 2026 and EVCharge Live Indonesia 2026, taking place on 11–12 November at the Indonesia Convention Exhibition (ICE), BSD City, Tangerang. Organised by Terrapinn, the co-located events are expected to bring together over 5,000 attendees, 120+ speakers and 100+ sponsors and exhibitors from across the energy, power and electric mobility sectors.

The events come at a significant time as Indonesia accelerates its energy transition. In September 2026, the Ministry of National Development Planning (Bappenas) and PT PLN (Persero) announced plans to develop 100GW of solar power supported by battery energy storage systems (BESS). Meanwhile, Indonesia’s public EV charging network reached 4,769 charging units across 3,097 locations as of April 2026, highlighting the growing need for investment, grid readiness, and collaboration between the energy and transport segments.

An impressive speaker line-up that goes beyond the hype

The two-day event will feature discussions across four stages and eight dedicated tracks, including Commercial & Industrial Solar, Energy Storage & Batteries, EV Batteries, Energy & Ecosystem, EV Infrastructure & Fleet Management, Rural Electrification & Smart Grid, Rooftop, Floating & Residential Solar, Solar Installer University and Utility-Scale Solar.

Among the opening keynote speakers are Togu Pardede, Director of Energy, Mineral and Mining Resources at Bappenas, who will address national priorities for delivering Indonesia’s solar energy transition, and Yusuf Nugroho, Director of Road Transport Means and Safety at the Ministry of Transportation, who will discuss the establishment of a safe electric vehicle ecosystem.

Other senior leaders contributing to the wider programme from government, utilities and industry include:

Arief Heryana, Director of Operations, PT PLN Nusantara RenewablesDr. Yono Reksoprodjo, Expert Staff to the Head of the Agency for Resilience Strategy and Land Affairs, Badan Bank TanahLucky Luqman Nurrahmat, Director of Technology Advancement, BPI Danantara IndonesiaDelano Dalo, Head of Public Financing 2 Division, PT Sarana Multi Infrastruktur (PT SMI)Satya Hangga Yudha Widya Putra, Technical Advisor to The Minister, Ministry of Energy and Mineral Resources (ESDM)Nurwahidi, Senior Advisor Deputy II, Executive Office of the President Republic of Indonesia (Kantor Staf Presiden)Zainul Pulungan, Senior Trainer, Ministry of Energy and Mineral Resources (ESDM)Ricky Adrian, Vice President Decarbonization Business Development and Energy Management, PT PLN (Persero) Riniwaty Sinaga, Public Relations, Indonesian Electric Motorcycle Industry Association (AISMOLI)Yoga Adiwinarto, Director of Business Development, KALISTAMohamad Amrinsyah, Head of Fleet, Lazada IndonesiaHalim Wijaya, Director of GrabRental and Expansion Business, Grab IndonesiaWendy Priana Negara, Group Head of Fleet Investment, PT ASDP Indonesia Ferry (Persero)Reza Fajar Prayoga, Business Planning and Development Manager, PLN Indonesia Power Renewables

Conference highlights include discussions on Indonesia’s priority solar projects, financing barriers to utility-scale deployment, rural electrification and battery storage economics. On the electric mobility front, sessions will examine EV charging infrastructure challenges, fleet electrification and the integration of EV batteries and distributed storage into the power grid.

A curated marketplace of solutions to build relationships and close deals

Beyond the conference, attendees will have the opportunity to explore technologies and solutions from more than 100 sponsors and exhibitors across the exhibition floor.

Deye Inverter, Diamond Sponsor of Solar & Storage Live Indonesia 2026, will be among the companies showcasing solar and energy storage solutions. Infineon, Gold Sponsor of EVCharge Live Indonesia 2026, and AMPECO, Silver Sponsor, will also be participating in the EV-focused exhibition.

Other exhibiting companies include RatedPower, Suryanesia and Studer Cables AG at Solar & Storage Live Indonesia, alongside Green24 Holding, Sumber Daya Alamindo and Statiq at EVCharge Live Indonesia.

Across the show floor, visitors can explore solar PV technologies, inverters, battery storage systems, cables and electrical components, as well as EV charging stations, charging management platforms, battery swapping technologies, portable charging solutions and wall-mounted EV chargers.

The exhibition will attract a broad range of industry professionals, including utilities, independent power producers (IPPs), project developers, EPC contractors, large energy buyers, investors, charging point operators, fleet owners, logistics companies, automotive manufacturers and technology providers, creating opportunities for business connections and cross-sector collaboration.

The events are supported by industry associations and organisations including Charging Interface Initiative (CharIN), Global Energy Alliance, Global Solar Council, Green Building Council Indonesia, Indonesian Electric Motorcycle Industry Association (AISMOLI), Indonesian Express Delivery, Postal and Logistics Services Association (ASPERINDO), Indonesian Logistics Association (ALI), Indonesian Smart Grid Initiative (PJCI), Indonesian Solar Module Manufacturers Association (APAMSI), Indonesian Solar Power Entrepreneurs Association (APPLTSI) and Malaysia Zero Emission Vehicle Association (MyZEVA).

“We’re delighted to be returning to Tangerang for the second editions of Solar & Storage Live Indonesia and EVCharge Live Indonesia,” said Paul Clark, Managing Director, Terrapinn Asia. “The expo has doubled in size since last year, underscoring the level of excitement around Indonesia’s clean energy plans. There’s no better place to get the latest updates on the 100GW plan and the commitment to create a cleaner, greener future for all Indonesians and to meet the people that can actually get your projects moving.”

Solar & Storage Live Indonesia 2026 and EVCharge Live Indonesia 2026 will take place at ICE BSD City, with one visitor pass providing access to both exhibitions. Admission to the event is free for visitors who register.

To register or find more information, please visit: www.terrapinn.com/SSLID26-PRN

Event Details

Solar & Storage Live Indonesia 2026 | EVCharge Live Indonesia 2026
Dates: 11–12 November 2026
Venue: Halls 3 & 3A, Indonesia Convention Exhibition (ICE), BSD City, Tangerang, Indonesia
Opening hours:

Wednesday, 11 November: 08:30–17:30 WIBThursday, 12 November: 09:00–17:00 WIB

About Solar & Storage Live Indonesia

Solar & Storage Live Indonesia is a business-to-business exhibition and conference dedicated to advancing solar power and energy storage deployment in Indonesia. It connects utilities, project developers and energy buyers to explore new technologies, business opportunities and partnerships across the solar and storage value chain.

About Terrapinn

Terrapinn has been sparking ideas, innovations and relationships that transform business for over 30 years. Using our global footprint, we bring innovators, disrupters and change agents together, discussing and demonstrating the technology, strategies and personalities that are changing the way the world does business. Whether you’re looking to make new connections, introduce product or inspire change in your industry, we invite you to join us as agitators of change. Terrapinn – spark something. www.terrapinn.com

PRNewswire is the Official Media Partner of Solar & Storage Live Indonesia 2026 and EVCharge Live Indonesia 2026.

Press attendance is complimentary. For media enquiries, please contact:

Judith Soh
Marketing Manager
Terrapinn
judith.soh@terrapinn.com

Jessica Foong
Marketing Director
Terrapinn
jessica.foong@terrapinn.com

 

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/from-targets-to-projects-solar–storage-live-and-evcharge-live-indonesia-2026-focus-on-infrastructure-delivery-302926728.html

SOURCE Terrapinn Pte Ltd

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