Hospitality technology company Apaleo has topped up its Series A round bringing the total to €9 million.
New investors joined the round, with Rockaway Ventures and Serpentine Ventures leading the funding while previous investors Redalpine and Force Over Mass Capital were also involved.
The Germany-based startup, which was founded in 2017, initially announced €4.5 million in Series A funding just under two years ago.
Apaleo plans to use the funding to further develop its property management platform for hotels and serviced apartment chains as well as speed up expansion in Europe.
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Martin Reichenbach, the company’s co-founder and CEO, says: “Apaleo is exactly what hotel groups and alternative accommodation providers have been demanding for a long time: a true platform approach to design their preferred stack. 2022 has provided tremendous signals that the industry is ready and hungry for transformation. The new funding will allow us to pursue our mission since the birth of Apaleo: Give every hospitality business the freedom to create its vision. We will continue to provide the core while our forward-thinking community will help hospitality companies to innovate.”
In June 2021, the founding team of Hotelhero, a hotel software and review service, wound down operations and joined Apaleo . Co-founder Thibault Gence and Florian Montag are now vice president of growth and vice president of business development, respectively.