GoCo-op Secures $23M Equity Financing, Inks Contract With Avendra

MAITLAND, FL— GoCo-op, a provider of web-based procurement systems for the hospitality industry, has secured a $23 million equity funding commitment. The company has drawn down $12.5 million of the commitment and expects to draw down the remainder over the next year. This latest funding round was led by an existing investor— the Invemed Catalyst Fund. Additionally, GoCo-op executed a new five-year contract with Avendra under which GoCo-op will develop, host and manage the content of a private e-procurement portal utilized by Avendra’s customers and suppliers.