Folio, a financial operations platform for hotels, has secured $14 million in Series A funding.
The investment in the United States-based business, which was founded in 2023, was led by Thrive Capital and Construct Capital, with participation from Redseed VC and SciFi VC.
Folio plans to put the funds towards fast implementation of its technology for hotels. The startup offers hotels a number of products, including procurement platform Folio Buy, artificial intelligence (AI)-powered Folio Bill for invoice processing and streamlined payments through Folio Pay.
Subscribe to our newsletter below
“At Folio, we’re financial technologists who love hotels,” said Kate Adamson, co-founder and CEO. “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.”
The company said that since it launched at HITEC in 2024, it has landed a number of major contracts with hotel management companies, including HHM Hotels in the U.S.
“Any new technology must deliver clear ROI—and Folio does just that,” said Shawn Tuli, chief investment officer of HHM Hotels. “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.”