Mews raises $110M at $1.2B valuation

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.

“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.”