The extension brings the Series A to a €9 million total.
Growth investors, Rockaway Ventures and Serpentine Ventures led the round complemented by a number of high-profile business angels.
The new capital will fuel Apaleo’s product development plans and consolidate its market-leading position in Germany while accelerating its penetration within hotel and serviced apartment groups across Europe.
(Munich, March 1st 2023). Apaleo, The open hospitality platform, announces a growth equity round bringing its Series A funding to €9 million. Apaleo selected new growth investors, Rockaway Ventures and Serpentine Ventures to lead the round with returning investors including Redalpine, and Force Over Mass Capital. Several high-profile angel investors from the hospitality industry have also joined the round. The funding will primarily be used to further develop the platform for hotel & serviced apartment chains as well as accelerate expansion throughout Europe.
Apaleo has continued to experience strong expansion throughout 2022, with over 100% year-to-year growth in ARR. In the challenging macro-environment of labour shortages and increased energy prices, the platform enables accommodation businesses to create unique digital experiences while streamlining operations, ultimately creating a competitive advantage.
The API-first property management platform powers brands across more than 15 countries, disrupting the nature of hospitality software with the transition from single-vendor suites to best-of-breed technology. Forward-thinking hotel groups and tech-enabled hospitality businesses are already leveraging the open platform with customers including numa, Mollie’s by Soho House, mk hotels, Zetter Hotels & co, Limehome, SV Group, HR Group, Vagabond Club, and Lindemann Hotels.
Martin Reichenbach, CEO and co-founder of Apaleo is convinced: “Apaleo is exactly what hotel groups and alternative accommodation providers have been demanding for a long time: a true platform approach to design their preferred tech stack. 2022 has provided tremendous signals that the industry is ready and hungry for transformation. This new funding will allow us to pursue our mission since the birth of Apaleo: give every hospitality business the freedom to create its vision. We will continue to provide the core while our forward-thinking community will help hospitality companies to innovate.”
“Apaleo’s robust and cost-efficient business model paired with its rapid growth made it highly attractive for us as investment partners. As technology investors, we were truly impressed by the combination of cutting-edge technology and a high-profile management team featuring hospitality industry veterans, serial entrepreneurs and SaaS experts,” shares Maximilian Boelck, Investment Director at Serpentine Ventures.
“As a long-term investor in European online travel, we truly appreciate how well Apaleo addresses the current hospitality trends and changing demands of the modern customer. We believe Apaleo has the potential to become an important player in the global hospitality tech ecosystem,” adds Andrea Lauren, General Partner at Rockaway Ventures.
Uli Pillau, co-founder of Apaleo, says “We believe in open innovation, not in closed software suites. Our first-of-its-kind, API-first platform, is setting a standard for modern property management and allows app developers to solve the pressing challenges of our industry".
The executive team around Martin Reichenbach with Vasily Geyer (CTO), Thibault Gence (VP Growth), and Florian Montag (VP Business Development) will focus on driving the further growth of Apaleo, consolidating its market-leading position for hotel and serviced apartment groups in Germany as well as its continued internationalization throughout Europe in 2023.
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