Munich-based hospitality tech platform apaleo has raised €4.5 million in a series A round.
The round was led by London-based Force Over Mass, and saw participation from Redalpine and Bayern Kapital.
No reports on what the funding is earmarked for, but presumably one of the usual two: further product and/or staff development or international expansion.
apaleo is seeking to pull the hospitality industry into the 21st century with their vision of driving innovation and collaboration between both accommodation providers and third-party app developers.
To this end, apaleo’s API-driven cloud platform provides a self-service platform that allows any accommodation provider to build and run their tech in a cost-efficient manner. Namely, via circumventing the traditional capital expenditure model in favour of a pure SaaS subscription model without any upfront fees.
Even during the worst crisis to ever face the industry, apaleo is reporting solid client base growth, with customers not wanting, but needing, operational efficiencies. Exactly the type of efficiencies apaleo was/is poised to offer.
"We have been impressed by apaleo’s flexible, unified-API-based platform, which has enjoyed strong demand despite widespread industry disruption,” comments Force Over Mass Investment Manager Lucas Stoops. “apaleo’s offering stands out for its scalability and the enthusiasm it attracts from customers and developers alike. apaleo’s team is extremely impressive and we are excited to join them on this journey."
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