PHOENIX, Jan. 16, 2025 — Trinity Capital Inc. (NASDAQ: TRIN) (“Trinity”), a leading alternative asset manager, today announced the commitment of $12.5 million in growth capital to Upward Health, an in-home, multidisciplinary medical group providing 24/7 whole-person care.
The company partners with health plans and other risk-bearing entities to address the unique needs of high-risk, high-need patients, delivering care that aims to improve health outcomes and quality of life. Upward Health was ranked number 7 on the 2023 Inc. 5000 list of the fastest-growing private companies in the United States, and number 6 on the 2024 list.
“Upward Health’s unique approach to healthcare delivery has positioned them as a leader in their space,” said Bob D’Acquisto, Managing Director, Tech Lending at Trinity. “We’re excited to provide the capital they need to continue to grow their business and amplify their impact.”
The $12.5 million debt financing from Trinity is part of a larger debt financing, including an additional $7.5 million from Comerica Bank. The debt was raised in conjunction with the company’s Series C fundraise, led by Heritage Group and Blue Venture Fund, with additional investments from Noro-Moseley Partners and others. The capital will be used to fund growth initiatives.
“We’re excited to partner with Trinity Capital as we enter this next phase of growth,” said Glen Moller, CEO of Upward Health. “Trinity’s support will be instrumental as we expand our coverage area, refine our care model, and ultimately, improve the quality of life for more patients across the country.”
About Trinity Capital Inc.
Trinity Capital Inc. (Nasdaq: TRIN) is an international alternative asset manager, aiming to provide investors with stable and consistent returns through access to the private credit market. We source, vet, and invest in dynamic privately funded growth-oriented companies, giving our investors access to a strong and diversified portfolio. With distinct business verticals, Trinity Capital stands as a trusted partner for innovative companies seeking tailored growth capital solutions. Headquartered in Phoenix, Arizona, the firm has an international footprint, supported by a dedicated team of strategically located investment professionals. For more information, visit the company’s website at trinitycapital.com and stay connected by following us on LinkedIn and X (formerly Twitter).
About Upward Health
Upward Health is an in-home multidisciplinary provider that partners with health plans and other risk-bearing entities to address the unique needs of the most high-risk, high-need users of the healthcare system today. Using a unique, in-home community-based approach to meeting a patient’s needs, Upward Health facilitates and delivers care that improves outcomes and the quality of life for every patient it serves. Upward Health has a measured Net Promoter Score of 86, among the highest in the healthcare industry.
BRISTOL, England, Jan. 16, 2025 — Origen Power Limited (“Origen”), a growing limestone-based carbon removal provider, announced today that it has secured $13 million in Series A funding, led by Barclays Climate Ventures (“Barclays”). Shell Ventures, Exascale Fund (“Exa”), Elemental Impact, and Hatch also participated in the round.
The company will use the capital to scale its limestone-based direct air capture (DAC) technology to remove carbon from the atmosphere, continuing to grow and scale its commercial projects worldwide. The company also plans to invest in further research at its technology and research centre in Bristol.
Origen’s differentiated approach to direct air capture (DAC) uses the natural chemistry of highly abundant limestone to absorb carbon dioxide from the atmosphere. Origen separates the carbon from the limestone rock, safely storing it underground, to create the mineral lime. Lime is then effective at pulling carbon from the atmosphere through a naturally occurring and passive process.
“Efficiently enabled by the technology we have developed at Origen, limestone can act as a natural sponge for carbon dioxide in our atmosphere,” said Ben Riddle-Turner, CEO of Origen. “The challenge is that we need investment to deliver at scale. This funding gives us the runway we need to streamline our process and reduce costs to deliver the carbon reductions that our planet needs.”
In the face of rising global temperatures, there is an urgent need to slow the pace of carbon emissions as well as reduce the amount of carbon already in the atmosphere through DAC solutions. Moreover, DAC represents an important step toward reducing emissions from hard-to-decarbonize sectors like manufacturing, shipping, and construction industries.
“Origen has the process, technology, and team needed to deploy efficient direct air capture at scale.” said Steven Poulter, Head of Barclays Climate Ventures. “So that Origen can deliver impact, the focus is rightly now on proving the technology via Origen’s project with EERC and preparing for the development of commercial projects, which Barclays is proud to support through today’s investment.”
The company recently announced a partnership with the Energy and Environmental Research Center (EERC) to capture 1,000 tonnes per annum (tpa) of carbon dioxide per year using this process at a facility under construction in North Dakota. Origen’s approach includes proprietary technology across the entire value stack, including the kiln, lime preparation, and air contactor. The company’s DAC technology is also fuel flexible, avoiding short-term energy challenges faced by other DAC providers and enabling scalable carbon removal today while adapting to the evolving energy mix over time.
Origen also previously announced a partnership with Shell and Mitsubishi to begin the development process on the Pelican Gulf Coast Carbon Removal Direct Air Capture project. The project is expected to remove up to 50,000 tonnes of carbon per year – more than 10 times the largest operating DAC facility in the U.S. today. The potential offtake includes up to $3 million in advanced carbon removal credits.
“Shell Ventures is excited to support Origen and its direct air capture technology,” said Quennie Co, Managing Partner of Shell Ventures. “Advancing carbon removal technologies is a critical part of the energy transition, and Origen’s technology relies on raw materials that have established supply chains and has the potential to generate low-cost carbon removal credits at scale, which can catalyze the industry.”
“Tim Kruger’s groundbreaking TED talk on ideas of using limestone’s natural chemical properties to remove CO₂ from the atmosphere left a lasting impression on me,” said Chris Anderson, Head of TED and General Partner, Exa. “Today, I’m thrilled to see Origen bringing these exceptional ideas to commercial scale. Exa is proud to join this funding round alongside strong new partners in this space.”
“We were excited to back Origen because they’re already making real progress on the ground in Louisiana and North Dakota,” said Danya Hakeem, VP of Portfolio at Elemental Impact. “For Elemental, these projects aren’t just about carbon capture – they’re creating jobs and economic opportunities in the communities where they operate.”
About Origen
Origen is a UK and US-based climate technology company founded by preeminent thinkers in carbon removal and industrial technology, who believe in the power of limestone to permanently sequester CO2 and materially reduce the impacts of climate change. Origen’s direct air capture (DAC) technology uses the natural chemistry of abundantly available limestone rock to durably remove CO2 from the air with its green lime kiln and low-intensity air contactor. The company aims to scale to millions then billions of tonnes of carbon removal to achieve its mission, “The Atmosphere, Restored.” For more information about Origen, visitwww.origencarbon.com.
About Barclays Climate Ventures
Barclays Climate Ventures has a mandate to invest £500m of Barclays’ capital into the equity of climate-tech start-ups between 2020 and 2027. Through this portfolio, Barclays aims to fill growth stage funding gaps to help accelerate and scale catalytic solutions to environmental challenges, with an enhanced focus on decarbonisation technologies that are enabling transition within carbon intensive sectors. Since launch in 2020, more than £166m has been invested, supporting many aspects of climate-tech innovation, from property retrofit solutions to long-duration energy storage and hydrogen technologies. Find out more here.
About Shell Ventures
Shell Ventures works with startups and companies from their early stages to their scale and growth phases. We make minority investments that help to develop new technologies and disruptive business models that work to accelerate the energy and mobility transformation. More info on Shell Ventures can be found here.
About Exascale Fund
Exascale Fund (“Exa”) is an early-stage investor backing entrepreneurs who are tackling climate change through disruptive and scalable technologies. We get involved as an active partner from the earliest moments of concept on paper, to proven tests and commercial roll-out (pre-seed to Series A). We are fast moving and agile, with flexibility in terms of geography and ticket sizes, and with our evergreen structure we are a partner with patient capital.
About Elemental Impact
Elemental Impact is a non-profit investor with 15 years of experience scaling innovative technology projects with deep climate and community impact. Elemental invests catalytic capital and provides expert services to a growing portfolio of 160+ companies in energy, agriculture, transportation, industry, and nature-based solutions.
Hatch is a global engineering, project delivery, and professional services firm. Whatever our clients envision, our teams can design and build. With over six decades of business and technical experience in the mining, energy, and infrastructure sectors, we know your business and understand that your challenges are changing rapidly. We respond quickly with solutions that are smarter, more efficient and innovative. We draw upon our 10,000 staff with experience in over 150 countries to challenge the status quo and create positive change for our clients, our employees, and the communities we serve.
– El exsocio gerente de Boston Consulting Group Francia ayudará a liderar la empresa durante el próximo período de crecimiento
LONDRES, 16 de enero de 2025 — McWin Capital Partners (“McWin”), una empresa de capital privado y capital de riesgo especializada en el ecosistema alimentario, se complace en anunciar el nombramiento de Guillaume Charlin como socio gerente.
Guillaume se incorpora a McWin desde la oficina de París de Boston Consulting Group (“BCG”), donde trabajó durante 27 años. A lo largo de su carrera, Guillaume se ha centrado principalmente en asesorar a clientes del sector de consumo en los sectores de alimentos y bebidas (“F&B”), venta minorista, moda y lujo, lo que le ha permitido contar con una amplia trayectoria en la transformación y el desarrollo de empresas en colaboración con ejecutivos de alto nivel e inversores.
Además, Guillaume ocupó varios puestos de liderazgo sénior en BCG, incluido el de socio gerente de BCG Francia (supervisando a 1.200 personas) entre 2018 y 2022, y el de líder europeo del negocio de consumo de BCG entre 2016 y 2018. En 2022, tras su adquisición por parte de BCG, Guillaume fue nombrado presidente de Quantis, una consultora de sostenibilidad medioambiental centrada en el ecosistema alimentario.
Como socio gerente, Guillaume será responsable, junto con los demás socios, de mejorar la creación de valor en toda la cartera de McWin, al tiempo que utilizará su experiencia en la industria de alimentos y bebidas para respaldar el crecimiento de McWin. Ayudará a desarrollar y ejecutar una estrategia de crecimiento para McWin a través de iniciativas como la expansión geográfica y la penetración en nuevos mercados sectoriales. Guillaume también se unirá al Comité de Inversiones de McWin y asumirá un papel de liderazgo activo en la gestión de activos.
Henry McGovern, socio fundador de McWin, comentó: “Estamos encantados de dar la bienvenida a Guillaume a la familia McWin. Su profundo conocimiento de la industria alimentaria, junto con su experiencia en gestión, lo convierten en la persona perfecta para nosotros. Al igual que el resto de nuestro equipo directivo, aporta a la empresa una formación empresarial y una pasión por los emprendedores y fundadores, habiendo invertido en más de 20 empresas en los últimos 25 años.
“La experiencia que Guillaume adquirió a lo largo de los años trabajando junto a empresarios en empresas en etapa de crecimiento le ha permitido convertirse en un experto en ayudar a las empresas a prosperar de una manera estratégica que es a la vez pragmática e impactante”.
Al comentar esto, Guillaume Charlin explicó: “Estoy encantado de unirme a McWin y estoy muy agradecido con Henry, Steve y los demás socios por su confianza al ayudar a liderar el negocio en su próxima trayectoria de crecimiento.
Estoy muy impresionado por los logros de los equipos de McWin desde sus inicios. El ADN emprendedor, la mentalidad del operador y el enfoque en el ecosistema alimentario aportan un valor añadido único a los socios de McWin Capital, a los consejeros delegados, a los empresarios y a los inversores.
Sobre la base de estos cimientos, creo que McWin está en una posición única para dar forma y capturar oportunidades de creación de valor a medida que los ecosistemas alimentarios continúan transformándose al afrontar desafíos como el impacto ambiental, la salud del consumidor y la soberanía alimentaria, al mismo tiempo que escalan las marcas en el sector de la restauración.
“Espero apoyar a McWin en su misión de crear un impacto significativo e impulsar la innovación en todo el ecosistema alimentario”.
Información de medios: McWin Capital Partners Gracechurch Group Para medios del Reino Unido e internacionales Jeff Segvich
Para medios franceses William Moray +44 (0)20 4582 3500 [email protected]
ACERCA DE MCWIN CAPITAL PARTNERS
McWin Capital Partners (“McWin”) es una empresa de capital privado y de capital de riesgo especializada en el ecosistema alimentario. McWin ha recaudado aproximadamente 1.000 millones de euros en tres fondos (McWin Food Ecosystem Fund, McWin Restaurant Fund y McWin Food Technology Fund) para apoyar a fundadores y consejeros delegados excepcionales que están a la vanguardia de cambios impactantes en la industria alimentaria.
Desde 2021, la firma ha respaldado a más de 20 de las empresas de servicios de alimentación y tecnología alimentaria más innovadoras e influyentes en etapas de crecimiento y madurez. Como empresa dirigida por emprendedores y cofundada por veteranos de la industria alimentaria, McWin ofrece más que solo capital para el crecimiento; la firma aprovecha su escala, red y experiencia para ofrecer rendimientos excepcionales.
McWin Capital Partners es el nombre comercial de McWin Advisers UK Limited. McWin Advisers UK Limited es un representante designado de G10 Capital Limited, que está autorizado y regulado por la Autoridad de Conducta Financiera (FRN 648953). Para obtener más información, visite https://mcwin.fund/.
Announcement Coincides with Insight’s 30th Anniversary of Driving Innovation in the Software Industry
NEW YORK, Jan. 16, 2025 — Global software investor, Insight Partners, today announced the closing of its thirteenth flagship fund with a dedicated buyout co-invest fund (together “Fund XIII”), as well as the closing of its structured equity fund, Opportunities Fund II. These funds represent $12.5 billion in capital to deploy in leading software companies across the globe to support growth at any stage. Insight’s honed investment strategies and dedication to the software sector saw strong support from both long-standing and notable new investors, with Insight’s employees representing the largest aggregate commitment to the funds. The closing of these new funds brings Insight Partners’ regulatory assets under management to more than $90B and marks a notable milestone in the firm’s 30-year history of scaling transformative software companies worldwide.
Insight’s flagship funds, including Fund XIII, typically invest between $5 million and $500 million+ in a company, with the ability to invest from the earliest institutional check to IPO. The Opportunities Fund provides companies and their investors with alternative financing solutions, typically in the form of structured preferred equity investments, enabling them to continue their growth trajectory while bolstering their balance sheet. These investment vehicles allow Insight to meet software companies across the globe at any stage of their growth journey, with flexible financing solutions.
Today’s fundraising announcement reinforces Insight’s commitment to advancing innovation, fostering growth, and supporting the next generation of software leaders. After a year of successful exits and total realizations of more than $8 billion, including the sales of Recorded Future to Mastercard, Own to Salesforce, WalkMe to SAP and Jama Software and AMCS to Private Equity sponsors, Insight Partners looks forward to the next 30 years of finding and powering great software companies to strong outcomes.
“For 30 years, Insight Partners has been more than an investor—we have been a partner to software leaders, helping them scale transformative ideas into global powerhouses. Fund XIII is a testament to the trust we’ve built with our founders, Limited Partners, and team,” said Jeff Horing, Co-Founder and Managing Director at Insight Partners. “As we celebrate this milestone, we remain focused on shaping the next era of innovation and growth in the software industry.”
Closing these funds alongside long-standing LPs and new investors alike, Insight celebrates these achievements as a testament to the partnerships it has developed and fostered for three decades. Since its inception in 1995, Insight Partners set out with a bold vision to be more than just an investor by harnessing a differentiated approach to software investing. Rooted in the belief that scaling is about more than capital, Insight’s approach goes beyond transactions to create partnerships. Through Insight Onsite, the firm’s comprehensive growth engine, Insight offers hands-on operational support tailored to every stage of a company’s growth, from go-to-market strategies to global expansion.
“Fund XIII and Opportunities Fund II represent our unwavering belief in the power of software to transform industries and lives. These funds not only solidify our position as a global leader in software investing but also reflect our commitment to supporting founders with flexible capital, operational expertise, and enduring partnerships. We are grateful to our Limited Partners for their long-standing support of our vision,” said Deven Parekh, Managing Director at Insight Partners. “Looking ahead, we are excited to build on 30 years of success, continue to expand our presence in global markets, and drive innovation across the software ecosystem.”
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of September 30, 2024, the firm has over $90B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.
Former Managing Partner of Boston Consulting Group France to Help Lead the Firm Through Next Period of Growth
LONDON, Jan. 16, 2025 — McWin Capital Partners (“McWin”), a specialist private equity and venture capital firm dedicated to the food ecosystem, is delighted to announce the appointment of Guillaume Charlin as Managing Partner.
Guillaume joins McWin from Boston Consulting Group’s (“BCG”) Paris office, where he spent 27 years. Throughout his career, Guillaume has primarily focused on advising clients in the consumer sector across Food & Beverage (“F&B”), Retail, Fashion and Luxury, which has resulted in an extensive track record of transforming and developing businesses in partnership with C-level executives and investors.
In addition, Guillaume held several senior leadership positions at BCG including Managing Partner for BCG France (overseeing 1,200 people) between 2018-2022, and European Leader for BCG’s consumer business between 2016-2018. In 2022, following its acquisition by BCG, Guillaume was appointed chairman of Quantis, an environmental sustainability consultancy with a focus on the food ecosystem.
As Managing Partner, Guillaume will be responsible, alongside the other Partners, for enhancing value creation across McWin’s portfolio whilst utilising his experience within the F&B industry to support McWin’s growth. He will help in developing and executing a growth strategy for McWin through initiatives such as geographic expansion and penetrating new sectoral markets. Guillaume will also join McWin’s Investment Committee and take an active leadership role in asset management.
Henry McGovern, Founding Partner at McWin commented: “We are delighted to welcome Guillaume to the McWin family. His in-depth knowledge of the food industry, alongside his expertise in management makes him the perfect match for us. Similarly to the rest of our senior leadership team, he brings an entrepreneurial background to the firm, and a passion for entrepreneurs and founders having invested in more than 20 companies over the past 25 years.
Guillaume’s experience gained over the years working alongside entrepreneurs in growth-stage firms has enabled him to become an expert in helping businesses flourish in a strategic way that is both pragmatic and impactful.”
Commenting, Guillaume Charlin said: “I am thrilled to join McWin and am very grateful to Henry, Steve, and the other Partners for their trust in helping lead the business into its next growth trajectory.
I am very impressed by the achievements of the McWin teams since inception. The entrepreneurial DNA, the operator’s mindset and the focus on the food ecosystem bring unique value added to McWin Capital Partners, CEOs, entrepreneurs and investors.
Building on these foundations, I believe McWin is uniquely positioned to shape and capture value creation opportunities as food ecosystems continue to transform by addressing challenges such as environmental impact, consumer health, and food sovereignty whilst simultaneously scaling brands in the restaurant sector.
I look forward to supporting McWin in its mission to create meaningful impact and drive innovation across the food ecosystem.”
Media information: McWin Capital Partners Gracechurch Group For UK and International Media Jeff Segvich
For French Media William Moray +44 (0)20 4582 3500 [email protected]
ABOUT MCWIN CAPITAL PARTNERS
McWin Capital Partners (“McWin”) is a specialist private equity and venture capital firm, dedicated to the food ecosystem. McWin has raised c. €1bn across three funds – McWin Food Ecosystem Fund, McWin Restaurant Fund and McWin Food Technology Fund – to support exceptional founders and CEOs who are at the forefront of impactful change in the food industry.
Since 2021, the firm has backed more than 20 of the most innovative and influential foodservice and food technology companies at growth and mature stages. As an entrepreneur-led business co-founded by veterans of the food industry, McWin provides more than just capital for growth; the firm leverages its scale, network and experience to deliver outstanding returns.
McWin Capital Partners is the trading name for McWin Advisers UK Limited. McWin Advisers UK Limited is an appointed representative of G10 Capital Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 648953). For more information, visit https://mcwin.fund/.
AIN becomes the second selected VCLP to support the next generation of technology innovation
COLUMBIA, Md., Jan. 15, 2025 — TEDCO, Maryland’s economic engine for technology companies, announces the selection of AIN Ventures as one of the early-stage venture capital fund managers supporting the management and investment of up to $10 million in U.S. Department of Treasury State Small Business Credit Initiative (SSBCI) funding.
AIN Founders
AIN logo
“As a mission-driven organization, we are excited to work with early-stage entrepreneurs and TEDCO to strengthen Maryland’s innovation ecosystem and support the successful deployment of valuable SSBCI funding,” said Sherman Williams, co-founder and managing partner of AIN Ventures.
“We are thrilled to collaborate with TEDCO to invest in Maryland’s founders,” said Emily McMahan, co-founder and general partner of AIN Ventures. “Together, we’re not just providing capital; we’re offering support to nurture the next generation of startups across the state. This collaboration will drive innovation and economic impact and unlock new opportunities.”
AIN Ventures is a venture capital firm specializing in pre-seed and seed-stage investments at the intersection of deep technology and dual-use technology. Separately, the fund also invests in military veteran-led startups. Startup founders will also have access to AIN Ventures’ Academy Investor Network, a syndicate of graduates from the five U.S. military service academies that invest alongside AIN and help with deal-sourcing, vetting and providing post-investment support.
“TEDCO is fully committed to supporting the growth and development of Maryland’s innovation ecosystem,” said Troy LeMaile-Stovall, TEDCO CEO. “Through our collaboration with AIN Ventures, we will expand our reach, support more small businesses and continue advancing innovation across the state.”
Recently, TEDCO announced receiving an infusion of up to $50 million in funding from SSBCI initiative. This funding supports recipients of TEDCO’s Venture Equity Fund, Seeds Funds Equity program, and Social Impact Funds—along with the $10 million earmarked for the Venture Capital Limited Partnership (VCLP) Equity program. Of this amount, $3 million has been allocated to 100KM Ventures as part of the VCLP program.
About TEDCO TEDCO, the Maryland Technology Development Corporation, enhances economic empowerment growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology and life science-based companies in Maryland. Learn more at www.tedcomd.com.
NEW YORK, Jan. 15, 2025 — Cambridge Wilkinson (“CW”) is pleased to announce the successful closing of a senior credit facility (undisclosed amount at the client’s request) for a specialty finance company focused on small and medium-sized business lending. As demand for fast, flexible financing solutions continues to surge, our client required a scalable credit structure to support its rapidly growing portfolio. Cambridge Wilkinson collaborated closely with the client to secure a customized financing solution that aligns with their revenue-based lending model and is designed to fuel sustainable growth.
Cambridge Wilkinson. Who we are, What we do, How we do it
“This transaction underscores the ongoing demand among institutional credit providers for specialty finance companies with innovative origination platforms and a proven ability to scale. Our typical deal sizes range between $25 million and $500 million, allowing us to deliver flexible capital solutions that support rapid growth. With this credit facility in place, our client is well-positioned to scale operations and continue providing essential capital to small businesses nationwide.” said Rob Bolandian, Co-Founder and Global Head of Investment Banking at Cambridge Wilkinson.
Cambridge Wilkinson is a leading global investment bank with the speed, connections, and the confidence to get transactions done. With a focus on middle-market companies, we arrange debt and equity capital raises from $25 million to $5 billion and advise on mergers and acquisitions. In addition, we also provide flexible and scalable leverage facilities and credit facilities for private equity funds and alternative credit funds which range from $25 million to $2 billion. We bring deep experience working with specialty finance institutions, real estate entities, funds as well as businesses spanning a variety of other industries. We offer unique access to a broad network of capital sources including large family offices, credit funds, banks, non-bank credit groups, insurance companies, private equity, sovereigns, and endowments.
Securities offered through Finalis Securities LLC Member FINRA / SIPC. Cambridge Wilkinson LLC and Finalis Securities LLC are separate, unaffiliated entities.
Rob Bolandian, Co-Founder & Global Head of Investment Banking [email protected]
Howard Chernin, Co-Founder & Chief Operating Officer [email protected]
Funding will drive Reeco’s strategic growth initiatives as it streamlines back-of-house operations for North American hotels
MIAMI, Jan. 15, 2025 — 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.
Henrik Shimony (left), Omri Shalev (right)
“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: [email protected]
Company tackles the growing cloud chaos costing enterprises more than $140 billion per year.1
NEW YORK and TEL AVIV, Israel, Jan. 15, 2025 — ControlMonkey, the breakthrough end-to-end cloud automation platform offering “Total Cloud Control with Terraform,” today announces its global launch and the close of a $7 million seed round, co-led by lool ventures and Joule Ventures. The funding will accelerate development of ControlMonkey’s cloud governance tools and expand its global operations, including significant investments in engineering, customer success, and go-to-market initiatives.
ControlMonkey co-founders CEO Aharon Twizer (R) and CTO Ori Yemini (L) in the company’s headquarters in Tel Aviv. ControlMonkey is the only end-to-end Terraform automation platform offering Total Cloud Control to DevOps teams in every industry, worldwide.
Founded by cloud industry veterans Aharon Twizer (co-founder of Spot.io–acquired by NetApp for $450M in 2020) and Ori Yemini (founding engineer of Spot.io), ControlMonkey revolutionizes how enterprise cloud teams deliver and govern infrastructure at scale. By combining industry-leading AI tools with best-in-class enterprise-grade automation, the platform helps pioneering customers like Intel, Square, Comcast, and NetApp achieve a 30% boost in cloud team productivity, 3x faster deployment times, and 50% fewer production tickets. Through its one-of-a-kind partnership with AWS, ControlMonkey is poised to scale these results to companies in every industry, worldwide.
“Today, we are supercharging the Infrastructure Delivery Revolution,” said Aharon Twizer, CEO and co-founder. “Just like GitHub and Jfrog revolutionized software delivery, ControlMonkey is transforming the cloud industry. By making infrastructure delivery as easy to manage as software, our platform is redefining how cloud teams govern clouds at scale. The close of this round helps us finally deliver the promise of Infrastructure-as-Code, so that every enterprise in every industry can harness its full potential.”
ControlMonkey stands apart from cloud automation point solutions by delivering end-to-end control with industry-first technologies, including:
AI-powered Code Generation reverse-engineers existing infrastructure into production-grade, validated Terraform code for 100% IaC coverage–with a single click.
Remediation Engine constantly scans existing code and fixes problems like drift, security vulnerabilities and cost inefficiencies–so a company’s cloud is always fully optimized.
Self-service QualityGate creates a catalog of predefined blueprints that empower teams to launch new cloud environments in minutes–accelerating delivery without sacrificing control.
Infrastructure Disaster Recovery captures a daily snapshot of cloud configurations to quickly restore to any point in time–mitigating the risk of critical failures and deletions.
Cloud vs. Code Integrity Guarantee ensures 100% cloud integrity with asset inventory, verification and deviation alerts–instilling 100% confidence, 100% of the time.
“ControlMonkey is truly revolutionary,” said Maya Azoulay, partner at lool ventures. “In a market that spends more than $140 billion every year trying to tame cloud complexity, ControlMonkey is the only platform harnessing the power of AI to deliver Total Cloud Control–end-to-end, at any scale. Every enterprise and every industry needs their solution, so we’re thrilled to co-lead this round with Joule Ventures and help scale ControlMonkey’s impact.”
lool ventures and Joule Ventures were joined in the round by Gaia Ventures and its founder, Deepak Krishnamurthy; Vadim Solovey and Yoav Toussia-Cohen, co-founders of DoiT; Asaf Ezra, CEO and co-founder of Granulate; and Ariel Assaraf, CEO and co-founder of Coralogix, among others.
About ControlMonkey ControlMonkey is the industry’s first fully end-to-end Terraform automation platform. It provides cloud teams everywhere with revolutionary AI tools and best-in-class automation to govern the entire cloud–from provisioning to optimization, at any scale, for any future. Founded by cloud industry veterans, ControlMonkey operates worldwide from its headquarters in Tel Aviv.
