Property management platform Apaleo has raised
€20 million in a growth equity investment round led by PSG Equity.
Redalpine, FOMCAP IV and Rockaway Ventures also participated in the round for the Germany-based company.
The funding will allow Apaleo to accelerate international
expansion, boost the team and further develop its platform. The
company intends to strengthen its presence through Europe and globally, as well
as deploy the capital to expand its reach across a broad spectrum of the accommodation
and serviced living industries.
Apaleo’s customers now include brands such as CitizenM and EasyHotel as well as apartment providers such
as Numa, Limehome and iLive and boutique chains like Miiro
Hotels and Korner Hotels.
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“The hospitality industry is undergoing a transformative
shift, with accommodation providers of all types and sizes demanding more
flexible and adaptable technology solutions,” said Uli Pillau, founder and CEO of
Apaleo.
“We’ve seen a growing demand for platforms that not only fit
different and diverse business models, but also spark innovation and agility.
Legacy all-in-one property management systems have long imposed limitations,
locking businesses into rigid frameworks that stifle growth and creativity.”
Pillau said the company has been developed to provide a solution for these challenges.
“Our multi-property management platform is designed
to be inherently adaptable and scalable, allowing any accommodation business,
no matter the technical capability, to build a customized tech stack that
aligns seamlessly with their unique needs,” he said.
“This approach doesn't just benefit
individual businesses, it lifts the entire industry by encouraging innovation
and the development of specialized applications tailored to specific business
requirements.”
“Apaleo’s commitment to an API-first approach truly
differentiates it in the competitive landscape,” said Edward Hughes, managing director
at PSG Equity. “As the hospitality industry advances
technologically, Apaleo’s agile, top-tier platform is ideally suited to meet
the changing needs of accommodation providers around the world.”
The company, which was founded in 2017, announced a top up to its Series A funding round last year, bringing the total to €9 million.