Hotel technology platform Mews has closed Series C funding of $185 million.
The investment is led by Kinnevik and the growth equity business of Goldman Sachs Asset Management.
Revaia, Derive Ventures and Orbit Capital also participated in the round alongside existing investors including Battery Ventures, Notion Capital, Salesforce Ventures, Thayer Venturs and henQ.
The funding will go towards speeding up product innovation as well as expansion and mergers and acquisitions.
Mews acquired property management system Cenium and point-of-sale software company Bizzon earlier this year.
In July, it launched Mews Ventures, an investment arm to accelerate further M&A activity.
In a statement, Mews says it has seen significant growth in revenue and gross payment volume in 2022.
“Our mission is to transform the hospitality industry with cloud solutions that make hospitality more rewarding for everyone,” says Matthijs Welle, CEO of Mews.
“This funding will enable the Mews team to accelerate some very ambitious plans in product and engineering, continue our international expansion and ensure we can serve the most forward-thinking hotel owners and operators in the world.”
And says Akhil Chainwala, investment director at Kinnevik, “Richard, Matthijs, and the broader Mews team have an intimate understanding of hoteliers’ needs and have taken a product-first approach to develop a modern solution in a sector ripe for disruption. As cloud adoption in hospitality accelerates driven by more complex guest needs and rising costs, Mews is best positioned to rebuild the sector’s digital plumbing. We are excited to welcome a fourth travel investment to our portfolio and look forward to supporting Mews in the next phase of its journey.”
The company, which was founded in 2012, has raised $225 million to date including Series B funding of $33 million in 2019.