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Cash influx, billings boost GoCo-op.(GoCo-op Inc. contracts with Avendra and Wyndham Hotel Company Ltd.)(Brief Article)(Statistical Data Included)
MAITLAND -- A new way of charging for its services and a new round of venture funding have set the stage for more stability at GoCo-op Inc.
The Maitland online procurement company last week received a $23 million commitment from private investors.
Perhaps more importantly, the company has signed new, differently structured contracts with two of its largest customers -- the hotel consortium Avendra and the Wyndham Hotel chain.
They have agreed to price GoCo-op's services in a way that will mean increased stability and revenues for GoCo-op, says founder Chris Cogan.
The capital and contracts will lead the company to profitability by the third or fourth quarter of next year, he says.
GoCo-op operates an Internet-based system of ordering supplies, …
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