Bayern, Germany, based startup Apaleo announced on 31st March 2021 that it has raised €4.5 million in its Series A round. The round was led by Force Over Mass Capital along with participation from Redalpine and Bayern Kapital.
Investors: Force Over Mass Capital is a London, United Kingdom, based venture capital firm that was founded in 2013 by Martijn De Wever and Theo Osborne. It predominantly invests in early-stage technology companies that have strong business models. Its portfolio includes companies in diverse sectors (artificial intelligence, big data analytics, gaming, healthtech, cloud &computing, edtech and more) such as AI Build, Datasine, Bravo, Findmecure, ENKI, Yellowdog and more.
“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.”—Lucas Stoops, investment manager at Force Over Mass Capital.
Apaleo will use the funding to further develop its platform and grow its network of hoteliers and app developers.
Apaleo was founded in the year 2017 by Martin Reents, Philip von Ditfurth, Martin Reichenbach, Stephan Wiesener and Ulrich Pillau. It describes itself as a cloud platform that helps in building agile accommodation businesses.
The company figuratively sees itself as a team of superheroes that is working together to bring down Thanos, a supervillain in Avengers: Infinity war who is compared with legacy property management systems. Legacy property management systems operate on closed platforms and charge exorbitant integration fees. This, according to the company, kills innovation, sucks budgets and drains happiness from hoteliers and app developers.
Apaleo, on the other hand, works on an open platform, does not charge any integration fees and uses an API-first approach. The API-first approach means the company first builds the connectivity layer and then adds a Property Management System (PMS) on top of it. This ensures that every single piece of data is accessible and freely integrateable.
All of Apaleo’s efforts are directed towards enabling hoteliers to better serve their guests.
What the co-founder has to say:
“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.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.”— Martin Reichenbach, co-founder and COO of Apaleo.
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