Florida-based GoCo-op, Inc., a leading developer and host of Internet-based procurement systems, has recently opened three offices, in London, Palma de Majorca and Madrid, to target the fast-growing global electronic procurement market.
The offices are staffed by sales and customer support representatives who will help service the company`s existing international customers, as well as target potential new clients throughout Europe.
The international expansion comes in the wake of GoCo-op`s recent announcement that it is providing the e-procurement platform for Hotelnetb2b.com
, an electronic marketplace for hotel chains in Europe and Latin America.
Hotelnetb2b.com is based in Palma de Majorca, and Telefonica, the prime technology partner for the European exchange, is based in Madrid.
GoCo-op is also in discussions with several hotel companies in England. According to Deutsche Bank, the global hospitality and related industries` procurement market is more than $100 billion annually. It is also estimated that the cost savings for hospitality purchasing networks, by using electronic procurement, can reach as much as $7 billion each year.
GoCo-op, Inc. develops and hosts Internet-based procurement systems and vertically integrated business-to-business trading communities for hospitality and hospitality-related industries; the company offers a rapidly deployable, end-to-end purchasing solution, Procura, that significantly reduces overall costs and inefficiencies for buyers and vendors.
Procura is a Web-based, hosted solution that enables users to make immediate real-time purchases or issue RFPs to sellers.
GoCo-op recently received an additional $21 million in venture capital financing, bringing the total amount of first round funding to $32 million. GoCo-op received its latest round of funding from a group of investors led by Invemed Catalyst Fund and Safeguard Scientifics. The proceeds will be used to fund development efforts to further enhance the company`s Internet-based, fully functional and fully deployed procurement systems, as well as expanding marketing efforts and helping fund the company`s increasing working-capital needs. GoCo-op has recently moved into a new, state-of-the-art headquarters facility near Orlando, Florida.
GoCo-op`s Procura solution is being implemented and used by a number of companies including Marriott, Hyatt, Wyndham, ClubCorp, Bass, and Guest Supply - www.GoCo-op.com