apaleo announces completion of seed financing round
apaleo, the company creating the Open Hotel Management Platform and Eco System has announced the completion of its first round of funding. Founder and chairman Martin Reents comments, ‘The system we are currently developing at apaleo is the most important technology project the hotel industry has seen for a long time and we believe that this will become a real game changer in hospitality software. An important project like this requires a great team, a good product vision and strategy, and solid funding, which most young startups are struggling with. At apaleo we have placed a great deal of emphasis on establishing the right company and financial structure very early on and we are now entering the next phase with our seed finance round which we have just concluded.’
apaleo was founded in January 2017 by a group of friends and partners who had a unique focus on hospitality and technology. The group started developing a true cloud platform for hotel management in February which form the basis of an open ecosystem. The Munich-based start-up of currently 15 people is constantly growing and the funding will support this infrastructure for at least 18 months.
Digitisation is the main driver for innovation in hotels but unfortunately the integration of new systems has turned out to be extremely cumbersome and expensive because today’s core technologies for operating hotels are entirely closed. The vision of apaleo is to establish a software ecosystem based on an open API. Hotel groups and hotels will be empowered to instantly connect third party software and apps of their choice.
Both hospitality customers as well as existing and new technology companies will benefit hugely from this type of ecosystem. apaleo’s mission to develop an open platform has the potential to change the IT landscape for a hotelier and can impact IT planning over the long term.
One of the founders of apaleo Uli Pillau adds, “Initially this round of seed financing had been planned with internal resources only. When we pulled together our apaleo community we saw a great deal of interest from parties who not only wanted to support the company with their expertise but also with financial backing. This led us to establish a group called apaAngels consisting of good friends with an excellent reputation in hotel or hotel technology.”