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April 26, 2023

Rockaway Ventures Fund expands its portfolio with the German startup Apaleo

After recent investments in the German FreewayCamper, the Czech platform Campiri or the Greek startup Spotawheel, Rockaway Ventures announced another interesting investment. This time to the German startup Apaleo, which focuses on developing a modern cloud platform for the hotel industry that allows accommodation facilities to easily manage their reservations, operations and invoicing. 

The company raised a total of EUR 9 million in two tranches in Series A funding. Rockaway Ventures was the lead equity investor in this round along with Swiss fund Serpentine Ventures, supplemented by a number of angel investors.  Apaleo is successfully disrupting the area of ​​software solutions for the hotel industry and property management. It offers modern cloud technology based on open interfaces (API) and easily connects various internal and external hotel systems and applications. This allows hotels and accommodation facilities to gain more flexibility and easily adapt their services to the specific needs of customers. 

Thanks to this, hotels and accommodation facilities can easily integrate their existing systems with the new Apaleo technology and thus build their unique proposition for their end customers.  Startup Apaleo is experiencing strong expansion, achieving more than 100% year-over-year ARR growth during 2022. The platform is used by technologically progressive hotel groups and digital accommodation establishments in more than 15 countries. These include, for example, numa, Mollie’s by Soho House, mk hotels, Zetter Hotels & co, Limehome, SV Group, HR Group, Vagabond Club or Lindemann Hotels.

“As a long-term investor in European online travel, we appreciate how well Apaleo responds to current hospitality trends and the changing demands of modern customers. We strongly believe that Apaleo has the potential to become an important player in the global hospitality technology ecosystem,” adds Andrea Lauren, General Partner of Rockaway Ventures.  

Martin Reichenbach, Co-CEO and co-founder of Apaleo, adds: “Apaleo is exactly what hotel groups and alternative accommodation providers have been asking for for a long time: a real platform where they can access their preferred technology package. During 2022, we saw clear signs that the hotel industry is ready and hungry for transformation. The new funding will allow us to continue our mission: to give every hospitality business the freedom to create their vision. We stand ready to continue to provide the technology core while our forward-thinking community helps hospitality companies innovate.”

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