# Folio

> Folio is a B2B fintech and procure-to-pay platform built specifically for the hospitality industry, primarily hotels and their restaurants. Often described as the 'Amazon for hotels,' it unifies purchasing, invoice processing, supplier payments, inventory, and expense management into one system, using AI to automate invoice matching and surface savings. Founded in 2023 by two former Plaid colleagues and based in Durham, North Carolina, Folio raised a $14M Series A led by Thrive Capital and Construct Capital in July 2025 and powers hundreds of hotels.

- **Founded:** 2023
- **Headquarters:** Durham, North Carolina, United States
- **Founders:** Kate Adamson (CEO & Co-Founder), Al Hertz (Co-Founder & Head of Design)
- **Team size:** ~33 employees
- **Products:** Folio Buy, Folio Bills, Folio Pay, Folio Inventory, Folio Expense
- **Notable:** Won the E20X Judge's Choice Award at HITEC 2024 as a top new hospitality startup., Built an MVP with paying customers in under a year and scaled to 200+ hotels in year one., Raised a $14M Series A in July 2025 led by Thrive Capital and Construct Capital.

## Products & services

- **Folio Buy** — A managed marketplace for ordering from approved suppliers, with punchout-style catalogs, a smart cart, GPO rate surfacing, and budget enforcement at checkout.
- **Folio Bills** — AI-powered invoice processing that auto-matches, routes, and approves invoices touchlessly - cited as saving roughly 40 hours a week, with up to 70% of invoices fully automated at one property.
- **Folio Pay** — Supplier payments via virtual card and ACH with rebate opportunities, reducing a 39-step payment process to 3 clicks.
- **Folio Inventory** — Fast stock counting and valuation with ERP sync, launched December 2025; reported to cut count time in half.
- **Folio Expense** — Corporate cards (Folio Visa Corporate Cards issued by Core Bank, Member FDIC) with budget controls, AI receipt reconciliation, and multi-entity accounting; launched at HITEC 2026.

## Achievements

- Won the E20X Judge's Choice Award at HITEC 2024 as a top new hospitality startup.
- Built an MVP with paying customers in under a year and scaled to 200+ hotels in year one.
- Raised a $14M Series A in July 2025 led by Thrive Capital and Construct Capital.
- Launched Folio Inventory (Dec 2025) and Folio Expense (HITEC 2026), expanding to a five-product suite.
- On track for close to a billion dollars in annual purchasing volume within ~2 years.

## Latest updates

- **2024-06** — Folio publicly debuted at HITEC 2024 and won the E20X Judge's Choice Award.
- **2025-07** — Raised a $14M Series A led by Thrive Capital and Construct Capital.
- **2025-12** — Launched Folio Inventory, adding lightning-fast stock counting and valuation with ERP sync.
- **2026-06** — Launched Folio Expense (corporate cards with AI receipt reconciliation) at HITEC 2026 in San Antonio.

## Links

- Website: https://folio.co
- LinkedIn: https://www.linkedin.com/company/folioco/

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Profile page: https://yespress.io/folio
Published by YesPress — https://yespress.io
Last updated: 2026-06-15