apaleo Completes Series A Funding Round Worth 4.5 Million Euros to Continue Disrupting the Hospitality Technology Industry
apaleo, the technology cloud platform provider that is disrupting the hospitality industry, announces the completion of a 4.5 Million Euros Series A funding round with Force Over Mass, Redalpine, and Bayern Kapital.
Based in Munich, apaleo was founded with a vision to drive innovation in the hospitality industry and enable the #FreedomToCreate to both the accommodation providers and the third-party app developers. The company has developed an open API-driven cloud platform that revolutionizes hospitality technology and property management.
Martin Reichenbach, co-founder and COO of the company says: "We are proud to continuously grow apaleo on a global scale despite the worst crisis our industry has ever seen. Getting three renowned Venture Capitalists on board allows us to foster investments in our disruptive technology platform." apaleo assembled its team around a group of experienced founders, hotel experts, and some of the best platform developers in the world.
Flat SaaS subscription model with no setup or training costs
apaleo has a unique approach in the industry called API-first, which allows any accommodation provider to build and run their technology in a cost-efficient way, including the migration from older legacy systems. This makes it easy for hotels to move away from a CAPEX-heavy license model towards a pure SaaS subscription model without any upfront fees.
apaleo products are fully self-serviceable and clients can set up their technology stack seamlessly on top of the apaleo platform. apaleo's app store gives any app or software firm the opportunity to fully connect, market, and distribute their products directly to apaleo users.
Open API platform solves the pressing challenges of the accommodation industry
For the development of new apps, apaleo has become the de facto standard in the hotel industry. Many innovative teams start their development project right on the apaleo platform with its open API. This means that apaleo users are always the first to have access to ground-breaking hotel apps.
"We believe in open innovation and not in closed shops. Our API-driven platform is setting a standard and allows app developers to solve the pressing challenges of our industry," says Martin Reichenbach. "apaleo will use the funding to enhance the platform and grow our community of hoteliers and app developers."
Scalable platform approach only possible with API-First architecture
Until today, the world of hospitality technology has been dominated by legacy, hosted, or cloud property management systems, which all are closed systems. While these providers market open APIs, experience from their customers and technology partners does not support that claim and they remain all-in-one systems. A true scalable platform approach can only be achieved by a technology company which is using API-first architecture.
Over the course of the COVID-19 pandemic, apaleo grew its client base significantly despite the issues facing the industry. apaleo users report an increase in operations efficiency due to automation and improved digital guest experience based on the seamless integrations of guest facing third-party apps. Continuous innovation driven by the growing ecosystem and custom developments based on apaleo's APIs allows any accommodation provider to stay relevant in times of constantly changing traveler expectations.
"Together, we will continue to disrupt alongside our community." The pan European venture capital group that has invested in apaleo consists of the lead investor, Force Over Mass from London, Redalpine from Zurich, and Bayern Kapital from Munich.
Lucas Stoops, Investment Manager at Force Over Mass, comments: "We have been impressed by apaleo's flexible, unified-API-based platform, which has enjoyed strong demand despite widespread industry disruption. 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." Uli Pillau, co-founder and CEO of apaleo summarizes: "apaleo is exactly what hotel groups, hotels and other accommodation providers have been demanding for on the technology side for a long time. It is the true platform approach where any hotelier can select their preferred technology as needed and without boundaries, and where any app
out there can connect quickly and at no cost. We will continue the disruption alongside our forward-thinking community, driving our strategy since the birth of apaleo."
Test apaleo for free now: apaleo.com
About Force Over Mass
Force Over Mass Capital is an FCA-regulated venture capital firm focused on early-stage technology investments across UK and Europe. It invests in B2B innovation across four verticals: Fintech, Artificial Intelligence, SaaS, and Industry 4.0. Force Over Mass operates both seed and scale-up funds to support early-stage businesses through their growth journey.
About Redalpine
Redalpine is an early-stage investor focused on disruptive and highly scalable business models. The goal is to help talented entrepreneurs turn their visions into reality. To foster entrepreneurial success, Redalpine provides financial support as well as relevant knowhow and a reliable network. Redalpine focuses on European health tech and ICT startups. Current investments include mobile-first bank N26, smart tax assistant Taxfix, fullservice staffing platform Zenjob and the Amazon third-party sellers acquiring Razor Group.
About Bayern Kapital
Bayern Kapital GmbH, based in Landshut, was founded in 1995 as a wholly-owned subsidiary of LfA Förderbank Bayern on the initiative of the Bavarian state government. As the venture capital company of the Free State of Bavaria, Bayern Kapital provides equity capital to the founders of innovative high-tech companies and young, innovative technology companies in Bavaria. Bayern Kapital currently manages twelve investment funds with an investment volume of around 500 million euros. To date, Bayern Kapital has invested around 350 million euros of venture capital in around 290 innovative technology-oriented companies from a wide range of sectors, including life sciences, software & IT, materials & new materials, nanotechnology, and environmental technology. As a result, more than 8,000 jobs have been created in Bavaria in sustainable companies.
About Apaleo
Apaleo is the open property management platform for hotel and serviced apartment groups, empowering accommodation providers to create the ultimate digital experience for guests and staff. The API-first property management platform powers brands across more than 24 countries, disrupting the nature of hospitality software with the transition from single-vendor suites to best-of-breed technology. Customers include Numa, Limehome citizenM, Mollie's, Vagabond Club, Raus and more. For more information, visit apaleo.com.
