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FEATURE PROFILE: Feature from the FALL 2024 ISSUE of STAY Magazine
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Mews raises $110m to accelerate cloud technology in hospitality
Mews, a European cloud-based software company has raised funding of $110m. The round is led by existing investor Kinnevik, alongside Revaia, Goldman Sachs Alternatives, Notion Capital and new investor LGVP.
Matt Welle, CEO, and Richard Valtr, founder, of Mews.
The new funding values the company at $1.2bn.
The funding follows a year of significant growth. In the last year, Mews has achieved:
Over 60 per cent increase in revenue year-on-year, crossing $100m in annualized net revenue
A significant increase in Gross Payment Volume to over $8bn
Over 16 million annual check-ins at hotels worldwide
Over 1,000 integrations with hospitality's best technology in its marketplace
Three new acquisitions (Frontdesk Anywhere, Hotello and Nomi), taking the total number of hospitality companies acquired by Mews to eight
The latest investment bolsters the financial standing of Mews as it sets itself up for major growth. The funding will see Mews prioritize its global expansion, research and development, and acquisitions, enabling the world's most innovative hospitality organizations to accelerate their digital transformation.
Richard Valtr, an ex-hotelier, founded Mews in 2012 when building a hotel in Prague, Czech Republic. Having spent the summer holidays as a night receptionist, Valtr realized that the hospitality industry is built on legacy, on-premise technology. Mews aims to revolutionize hotel operations with its cloud-based system that integrates with thousands of other tech solutions. Over 350,000 hospitality spaces are managed via Mews across 5,000 customers worldwide, including Strawberry Hotels, The Social Hub and Airelles.
"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. 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,” says Matt Welle, CEO, Mews.
The latest funding is in addition to the company's $185m investment round in December 2022, which was led by Kinnevik and the Growth Equity business within Goldman Sachs Asset Management.
