Global hospitality technology company Mews closed its Series C funding at USD 185 million. The company announced the closure on December 15, 2022. Kinnevik and the Growth Equity business within Goldman Sachs Asset Management led the financing for the firm. Meanwhile, Revaia, Derive Ventures and Orbit Capital joined in the funding. Besides, returning investors, including Battery Ventures, Notion Capital, Salesforce Ventures, Thayer Ventures, and henQ, participated in the financing. Moreover, the company expanded its debt facility with Columbia Lake Partners.
Purpose of financing for Mews
With the latest capital injection, Mews intends to fuel its product innovation further.
Besides, the company seeks global expansion and M&A. So far, the total financing raised by the company stands at USD 225 million.
What the company’s officials have to say
Matthijs Welle, CEO of Mews, said, “Our mission is to transform the hospitality industry with cloud solutions that make hospitality more rewarding for everyone. This funding will enable the Mews team to accelerate some very ambitious plans in product & engineering, continue our international expansion and ensure we can serve the most forward-thinking hotel owners and operators in the world.”
In addition, Richard Valtr, Founder of Mews, commented, “The hotel industry has come roaring back this year across almost every region and segment. At the same time, we’re seeing a very changed industry that’s embracing technology to modernize and streamline its operations. Our customers are using the Mews Hospitality Cloud to build more resilient and profitable business models with connected guest journeys, subscriptions, hybrid hospitality, long stays, and much more. With this funding, we’re going to continue pouring investment into R&D; we have a very exciting pipeline of product releases over the next few quarters.”
What the investors have to add
Akhil Chainwala, Investment Director at Kinnevik, further added, “Richard, Matthijs, and the broader Mews team have an intimate understanding of hoteliers’ needs and have taken a product-first approach to developing 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.”
Besides, Kirk Lepke, Managing Director in the Growth Equity business within Goldman Sachs Asset Management, said, “Closing a large round in this environment speaks to the tremendous growth and future potential of Mews. Hoteliers have experienced a lot of challenges over recent years, driving increased demand for cloud-native platforms, like Mews, to help them modernize, improve the guest experience, and create efficiencies through smart automation. With their open architecture and fully integrated payment capabilities, Mews is heavily relied upon as a mission-critical solution.”
About the company
Matthijs Welle and Richard Valtr launched the company in 2012. The company offers a hospitality platform to more than 3,000 properties in 70 countries. Nordic Choice, Accor, The Social Hub, Les Airelles, Life House, Pandox and Generator-Freehand are the customers of the company.
For more extensive analysis and Market Intelligence reports, feel free to approach us.
We try our best to fact-check and bring well-researched as well as non-plagiarized content to you. Please let us know
if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover
–what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
