Business Wire
Folio, the financial operations platform built for hospitality, announced a $14 million Series A , led by Thrive Capital and Construct Capital, with participation from Redseed VC and SciFi VC.
The capital will help Folio continue to power profitability at hotels and deliver even faster implementations. Folio’s modern procure-to-pay platform delivers increased profitability to hotels through their managed marketplace (Folio Buy), AI-powered invoice processing (Folio Bills), and streamlined payments (Folio Pay).
“At Folio, we’re financial technologists who love hotels,” said Kate Adamson, CEO and Co-Founder. “Our mission is to help hospitality thrive financially. By bringing properties, suppliers, and financial systems together in one place, hotel managers can more easily optimize spend.”
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Since their public debut at industry technology conference HITEC 2024, where Folio won the E20X Judge’s Choice Award for top new startup, Folio has rapidly expanded. In just one year, the company has landed major contracts with leading hotel management companies and now powers purchasing across hundreds of hotels.
One such management company is HHM Hotels, which manages over 39,000 hotel rooms and $2BN in revenue across the United States and Canada. The company has a history of adopting new technology to drive operational savings and advantages for hotel owners.
HHM Hotels Chief Investment Officer, Shawn Tuli, reported, “Any new technology must deliver clear ROI — and Folio does just that. Beyond streamlining workflows and boosting productivity by bringing AI to Procure-to-Pay processes, Folio accelerates time-to-value through their seamless implementations. We’ve quickly seen more efficiencies and alignment for our operating teams.”
The founding team at Folio builds on decades of experience in financial technology, e-commerce, hospitality, and applied AI.
Dayna Grayson, Co-Founder and General Partner at Construct Capital, noted: “Kate and Al have built a team that knows how to turn messy, siloed data into intuitive workflows that solve real problems for hotels.”
Daniel Benjamin, Principal at Redseed VC, added: “With rising costs and mounting pressure on margins, the hospitality industry needs smarter tools. Folio delivers just that — long-overdue innovation that’s efficient, transparent, and built for operators.”
Folio is an award-winning financial operations platform that helps properties turn back-office complexity into competitive advantage with a modern, all-in-one procure-to-pay solution which includes:
- Folio Buy: a centralized, managed marketplace
- Folio Bills: AI-driven invoice processing
- Folio Pay: streamlined payments via virtual card and ACH
Folio’s AI-powered workflows save teams time and money while enabling rapid implementations. One year post-launch, Folio powers hundreds of hotels and is on track to power nearly half a billion dollars in annual purchasing volume.
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