Apaleo Secures €20 Million Growth Equity Investment Led by PSG to Accelerate Global Expansion
Investment to accelerate global expansion in hospitality and serviced living, enhance technology, and attract top talent
MUNICH, 20 November 2024 – Apaleo, the API-first open property management platform, today announced it has raised €20 million in a growth equity investment round led by PSG Equity, a leading growth equity firm that specializes in partnering with software and technology-enabled services companies to help navigate and capitalize on transformational growth. Existing investors Redalpine, FOMCAP IV, and Rockaway Ventures also participated in the round.
The funding will allow Apaleo to accelerate its international expansion, attract top-tier talent, and further develop its cutting-edge platform. The company plans to strengthen its presence throughout Europe and globally, solidifying its position as a market leader in hotels and serviced apartments. Apaleo will also deploy the capital to further expand its already sizeable reach across a broad spectrum of the accommodation and serviced living industries – including hotel chains, resorts, student housing, short-term rentals, camping, senior living and other accommodation verticals.
Apaleo’s rapidly expanding portfolio now spans over 30 countries worldwide, managing more than 85,000 units across diverse markets and serving over 1,700 properties. Customers now include well-known global hotel brands like citizenM, easyHotel, and Falkensteiner Hotels & Residences, cutting-edge serviced apartment providers such as Numa, limehome, and iLive, as well as boutique chains like Miiro Hotels and Korner Hotels in France and internationally.
Unlike all-in-one property management systems, Apaleo’s API-first model offers the freedom to integrate with over 250 specialised applications, enabling accommodation providers to build customised technology stacks according to specific needs. This open platform approach addresses the primary limitation of legacy PMS-centric technology in today’s hospitality sector, eliminating constraints and fostering industry-wide innovation in technology applications. Supported by its MACH (Microservices-based, API-first, Cloud-native, Headless) architecture, Apaleo offers scalability and adaptability, empowering accommodation businesses of any size and type to tailor their technology solutions to fit any business model.
Uli Pillau, Founder and CEO of Apaleo, said: “The hospitality industry is undergoing a transformative shift, with accommodation providers of all types and sizes demanding more flexible and adaptable technology solutions. 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.”
“Apaleo was conceived as a direct response to 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 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.”
“Partnering with PSG is a major milestone for Apaleo. This investment is a strong vote of confidence in our vision to break free from outdated systems and empower businesses to create bespoke tech solutions that truly reflect their unique needs.”
Edward Hughes, Managing Director at PSG Equity: “Apaleo’s commitment to an API-first approach truly differentiates it in the competitive landscape. 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. PSG is excited to support Apaleo’s international expansion and apply our expertise to help the team scale effectively in key global markets.”
About Apaleo
Apaleo is the open property management platform for hotel and serviced apartment groups, empowering accommodation providers to create the ultimate digital experience for guests and staff. The API-first property management platform powers brands across more than 30 countries, disrupting the nature of hospitality software with the transition from single-vendor suites to best-of-breed technology. Customers include citizenM, easyHotel, Falkensteiner Hotels &Residences, limehome, Korner Hotels, Miiro Hotels, and Numa. For more information, visit apaleo.com.
About PSG Equity
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed over 140 companies and facilitated over 500 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Madrid, Paris and Tel-Aviv. For more information, visit www.psgequity.com.