Folio
Financial operations platform for the hospitality industry.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | $14.0m | Series A | |
| Total Funding | 000k | ||
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Folio is a financial operations platform specifically designed for the hospitality industry, founded in 2023 by CEO Kate Adamson and a co-founder referred to as Al. The company is headquartered in Durham, North Carolina, and operates on a remote-first basis. The founding team combines experience in financial technology, e-commerce, hospitality, and applied AI to address back-office complexities in hotels.
The company provides a modern, all-in-one procure-to-pay solution aimed at increasing profitability and financial visibility for hotel operators. Folio's platform is comprised of three main products: Folio Buy, a centralized managed marketplace for ordering from approved vendors; Folio Bills, an AI-powered invoice processing system that automates matching, routing, and approvals; and Folio Pay, which facilitates streamlined payments to suppliers via virtual card and ACH. The business model focuses on turning accounts payable from a cost center into a potential revenue driver by offering monthly rebates on eligible supplier payments made through the platform. Folio serves hotel management companies, including major clients like HHM Hotels, and since its public debut at the HITEC 2024 conference, it has expanded to power purchasing for hundreds of hotels.
Folio secured $14 million in a Series A funding round in July 2025, led by Thrive Capital and Construct Capital, with participation from Redseed VC and SciFi VC. This capital is intended to enhance the platform's capabilities and accelerate its deployment across the hospitality sector. The company gained early recognition by winning the E20X Judge's Choice Award at the HITEC 2024 conference, recognizing it as a top new startup.
Keywords: hospitality financial operations, procure-to-pay, hotel procurement, accounts payable automation, supplier payments, hotel purchasing, invoice processing, hospitality fintech, back-office automation, hospitality SaaS, spend management, vendor management, hotel cost control, financial visibility, e-procurement, hospitality technology, managed marketplace, AI in hospitality