Hospitality management
solution provider Mews has raised $110 million in a round that values the Amsterdam-based
company at $1.2 billion. Total funding for Mews to date is $335 million.
This round is
led by existing investor Kinnevik with participation from Revaia, Goldman Sachs
Alternatives, Notion Capital and new investor LGVP.
Mews said it
will use the funding to accelerate its global expansion, product growth and
acquisition strategy.
Founded in
2012 by ex-hotelier Richard Valtr, Mews provides a cloud-based system that it
says is used by 5,000 hospitality brands in 85 countries including Accor, Strawberry
Hotels, The Social Hub and Airelles.
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“We’re seeing a fundamental shift in the way the world’s leading
hospitality brands are accelerating their digital transformation and reshaping
the way they deliver hospitality,” Valtr said.
“With this raise we will continue to build industry-leading products
with a world-class team behind us. In five years, the way that hospitality
brands and guests interact with each other will be completely different, with
Mews leading the way.”
The company
said its revenue increased more than 60% in the last year, crossing $100
million in annualized net revenue. Mews has also made eight acquisitions – most
recently Frontdesk Anywhere in January, as well as Hotello and Nomi in 2023.
“This funding is a credit to the strength
of our vision, the Mews team, our forward-thinking customers and committed
investors who have helped us get to where we are today,” said Matt Welle, CEO
of Mews.
“As more hoteliers embrace modern technology, we have a huge opportunity
to help them streamline their operations, build more profitable businesses and
deliver personalized guest experiences. Mews is in a unique position to truly
transform the industry.”
Prior to this, the company’s last funding was in December 2022 for $185
million led by Kinnevik and the Growth Equity business within Goldman Sachs
Asset Management.
“Matt and Richard are building a product
and a team that is redefining the hospitality industry,” said Akhil Chainwala, investment
director at Kinnevik.
“In the short period of time since our initial investment, Mews has
outperformed our expectations as it moved into new geographies and segments.
Now, we are excited to further back the team to help them realize their
ambitions and accelerate even more quickly – especially to extend the
platform’s combination of software and payments. We’re looking forward to
continuing this journey with Mews and being a part of the transformation that
is happening across the industry.”
