Hotel SaaS firm Mews secures an extra $110 million in funding, propelling its valuation over $1.2 billion.
Mews, a cloud-based hotel property management system, announced to raise an additional $110 million in funding. Kinnevik, an existing investor, led the round alongside Revaia, Goldman Sachs Asset Management, Notion Capital, and new investor LGVP. This funding round has propelled Mews to unicorn status, with a valuation exceeding $1.2 billion.
In a recent interview, Richard Valtr, Founder of Mews, said: “Hospitality was hit hard by the pandemic, and whilst the last couple of years have shown the resilience of our industry, we know we can do even more to help hoteliers build more profitable businesses that can grow as exponentially as software companies do. That means expanding on what we’ve been doing for the last few years and adding to the hardest-working team in hotel tech. Last year we rebuilt our go-to-market teams so we can really put our foot on the accelerator to usher in a new era of hospitality, and we’ll keep growing our incredible R&D team.”
Richard also emphasized that addressing user disengagement remains a primary focus. Their strategy involves continuous platform refinement to enhance usability, attract new talent to the industry, and alleviate staffing shortages. Ultimately, they aim to elevate hotel staff to become among the highest-paid experience creators and curators globally.
Matthijs Welle, CEO of Mews said: “We’ll also be driving growth in our core markets, doubling down on the regions where we’re seeing real success. That includes Western Europe and countries like Germany, the Netherlands, France, and the Nordics, but also the US where we’re seeing real excitement about Mews liberating hoteliers from their legacy tech stack. And to reiterate what Richard said, we’ll continue to invest heavily in R&D, because we need to stay at the forefront of innovation. Lastly, we’ve been very active with acquisitions in the last couple of years, and we’re always looking for opportunities to invest in technology and teams that will elevate experiences for hotels and guests.”
Mews aims to go way beyond traditional boxed thinking and instead serve a variety of hospitality businesses with a solution that’s objectively recognized for its power to transform businesses. The upcoming years will focus on furthering these efforts, expanding globally, and collaborating with the most innovative hospitality operators to expedite their digital transformation and enhance their success.
About Mews:
Found in 2012, Mews offers a cloud-based hotel property management system aimed at streamlining hotel operations, allowing properties to prioritize guest experiences. Driven by a passion for technology and service, their mission is to revolutionize the hospitality industry through cloud solutions, enhancing the experience for everyone. Today they’re building transformational technology for millions of hospitality professionals and their guests.
In 2022, Mews closed its Series C funding round, securing $185 million. Leading the equity investment were Kinnevik and the Growth Equity division of Goldman Sachs Asset Management, joined by Revaia, Derive Ventures, Orbit Capital, and returning investors Battery Ventures, Notion Capital, Salesforce Ventures, Thayer Ventures, and henQ. Additionally, Mews expanded its existing debt facility with Columbia Lake Partners.
Read more Heyflow Raises $16 Million in Series A Funding to Enhance No-code Platform
Read more Showpad Co-founder Pieterjan Bouten Launches Entourage, Venture Studio and $30M Early-stage VC Fund
