Mews, the cloud platform dedicated to hotel management, continues to strengthen its market position thanks to a series of landmark successes. The company has just announced a $100 million fund-raising round with the support of Vista Credit Partners, aimed at accelerating its M&A program. At the same time, Mews has passed the 1,000-customer mark in France, consolidating its position in the hotel market.
Mews has announced a new funding round of $110 million, led by Kinnevik and joined by Revaia, Goldman Sachs Alternatives, Notion Capital, and new investor LGVP. The valuation of Mews now stands at $1.2 billion as the company continues to accelerate its global expansion, product development, and acquisitions.
This funding comes after a year of significant growth. Mews saw a 60% year-over-year increase in revenue, surpassing $100 million in annualized net revenue. The platform's gross payment volume also surged, reaching $8 billion. Additionally, over 16 million hotel check-ins were made worldwide through Mews, which now offers more than 1,000 integrations with hospitality technologies via its marketplace.
The company has also made three recent acquisitions: Frontdesk Anywhere, Hotello, and Nomi, bringing the total number of hospitality firms acquired by Mews to eight. This investment will allow Mews to continue its growth, focusing on international expansion, research and development, and further acquisitions.
Richard Valtr, the founder of Mews, explained the company's origins, created in 2012 while he was building a hotel in Prague. After working as a night receptionist, he became aware of the shortcomings of traditional, often outdated hotel technologies. Today, Mews positions itself as a key player by offering a cloud-based system that integrates with many other technological solutions. More than 350,000 hotel spaces across 5,000 clients, including Strawberry Hotels, The Social Hub, and Airelles, are now managed through the Mews platform.
This funding follows a $185 million investment secured by Mews in December 2022, led by Kinnevik and the Growth Equity division of Goldman Sachs Asset Management.
“We are witnessing a fundamental shift in how major hotel brands are accelerating their digital transformation and redefining how they deliver hospitality. With this funding, we will continue to build cutting-edge products with a world-class team. In five years, the way hotel brands and customers interact will be completely different, with Mews leading the way,” said Richard Valtr, founder of Mews.
“Mews is having a transformative impact by supporting some of the world’s most innovative hotel brands as cloud adoption accelerates in the $15.5 trillion global travel and tourism industry. With the growing demand for modern technologies, Mews and its leading platform are well-positioned to enable an even broader set of hospitality clients to transform their operations, diversify their revenues, and enhance the guest experience,” said Alexander Lippert, Managing Director of Growth Equity at Goldman Sachs Asset Management.
In addition to this global expansion, Mews has reached a significant milestone in the French market, surpassing 1,000 clients in the country.
The company, recently named Best PMS 2024 by Hotel Tech Report, continues to transform hotel experiences for both establishments and their guests.
France is now the country with the largest number of Mews clients, highlighting the growing interest in the hospitality sector for digital transformation and the adoption of innovative management solutions.
“I’m delighted that so many French hoteliers have chosen Mews to generate more revenue, optimize their operations, and deliver unforgettable experiences to their guests. The French market has always been very important to us. In recent years, we have made significant investments in France to build expert teams and understand the specific needs of French hoteliers,” said Matt Welle, CEO of Mews.
Mews’ clients in France have diversified, now including establishments of all types, from five-star hotels to hostels, castles, and long-stay hotels. Recent clients include The Boost Society, Valdys, Maison Mère, and Emeraude Hotels.
Mews plans to continue its expansion in France by participating in several upcoming events, including the EquipHotel trade show in Paris from November 3 to 7, 2024, as well as a tour through six major French cities during the “Apéro des Hôteliers.”
