Less than seven
months after it raised $110 million in funding at a $1.2 billion valuation,
Mews is at it again – this time bringing in another $100 million in financing
led by Vista Credit Partners, the credit-investing arm of Vista Equity
Partners.
The Amsterdam-based hospitality technology company said it
will use the fresh capital to become more aggressive with mergers and
acquisitions to accelerate growth of its business.
Founded in 2012, Mews provides cloud-based solutions that it
says are used by 5,500 hospitality customers in 85 countries including Strawberry,
the Social Hub and Airelles Collection. The company provides a property
management system with multiple capabilities such as a booking engine, payments
platform, point-of-sale platform, check-in kiosks and more.
Mews said in the last year it has increased its customers in
North America by 250% and has had a 54% growth in gross payment volume to over
$8 billion year-to-date.
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In 2022 the
company launched an investment arm, Mews Ventures, which has since acquired
nine hospitality companies, including HS3 Hotelsoftware
and Frontdesk
Anywhere earlier this year.
“Hospitality at its core is a human industry, and we are
relentlessly focused on driving cloud technology which empowers staff to
disconnect from their screens and focus on their guests. We have a huge
opportunity to support the world’s most revolutionary hospitality brands to
accelerate their digital transformation,” said Matt Welle, CEO of Mews.
“Receiving financing from an experienced enterprise software investor, like
Vista Credit Partners, enables us to expedite our efforts. By investing in both
our organic and inorganic growth, we will completely reshape the way
hospitality is delivered.”
And said Amy Mathews, managing director at Vista Credit
Partners, “As an integral property management system for hospitality brands
worldwide, the Mews cloud platform helps to automate core operational, business
and payments processes while empowering staff to provide the best possible
guest experiences. We are pleased to provide Mews with a flexible capital
solution specifically tailored to its ambitious growth plans as the team drives
transformation across the rapidly digitizing global hospitality sector.”
