Hospitality technology specialist Apaleo has raised €4.5 million in funding for its API-driven property management system.
Force Over Mass, Redalpine and Bayern Kapital all participated in the Series A investment for the Germany-based startup.
Martin Reichenbach, co-founder and chief operating officer of the company, says it is “proud to continuously grow Apaleo on a global scale despite the worst crisis our industry has ever seen.”
The company enables accommodation providers to build their technology based on a software-as-a-service subscription model.
Reichenbach adds that the company will use the funding to boost its platform and increase its “community of hoteliers and app developers.”
Lucas Stoops, investment manager for Force Over Mass, says: “We have been impressed by Apaleo’s flexible, unified-API-based platform, which has enjoyed strong demand despite widespread industry disruption.”
Uli Pillau, co-founder and CEO of Apaleo, adds: “Apaleo 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.”
* Check out these two clips from Apaleo's appearance at The Phocuswright Conference 2019.
apaleo - Summit - The Phocuswright Conference
Apaleo interview (PhocusWire @ Phocuswright Conference 2019)