Open property management platform Apaleo has secured €20m (€21.1m) in a funding growth equity investment.
PSG Equity, a company partnering with software and technology-enabled services companies, spearheaded the funding round.
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The existing investors of the company namely Redalpine, FOMCAP IV, and Rockaway Ventures also took part.
Apaleo intends to leverage the funding to expedite its global expansion, talent acquisition, and further development of its platform.
The investment will enable the company to bolster its presence across Europe and on a global scale in the field of hotels and serviced apartments.
Apaleo’s strategy includes extending its reach within the accommodation and serviced living industries, which encompasses a diverse range of verticals from hotel chains to student housing and senior living.
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By GlobalDataIts portfolio spans more than 30 countries, managing over 85,000 units.
The platform serves more than 1,700 properties, including hotel brands, boutique chains and serviced apartment providers.
Supported by its microservices-based, API-first, cloud-native, headless (MACH) architecture, the company offers scalability and flexibility for businesses to customise technology solutions to their unique business models.
The company’s API-first model is said to have the potential to integrate with over 250 specialised applications to aid providers in customising their technology stacks.
Apaleo founder and CEO Uli Pillau said: “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 customised tech stack that aligns seamlessly with their unique needs.
“This approach doesn’t just benefit individual businesses, it lifts the entire industry by encouraging innovation and the development of specialised applications tailored to specific business requirements.”
In February, Apaleo transitioned all 7,500 rooms of hotel operator citizenM’s operations in the US and Europe to its property management system in eight weeks.
