Netherlands: Hospitality management cloud platform Mews has announced that it has secured $100 million in fresh funding from Vista Credit Partners, the subsidiary of Vista Equity Partners, to accelerate mergers and acquisitions [M&A] activity.
It is the company’s latest fundraise, just six months after receiving $110 million in investment in March – a round which secured Mews’ unicorn status with a $1.2 billion valuation. To date, Mews has now raised $335 million in funding since its establishment in 2012.
The Dutch firm plans to use the investment to ramp up its M&A activity, continue investing in technology, and to accelerate its technological transformation throughout the hospitality industry.
So far, Mews has acquired nine companies through its investment and corporate development arm, Mews Ventures, including hotel management software Frontdesk Anywhere in February and US-based hospitality guest experience startup Nomi last October.
Mews founder Richard Valtr said: “The market is ripe for consolidation. Having successfully acquired nine companies to date, the funds from Vista Credit Partners further progress our position to continue investing in M&A via our investment and corporate development arm, Mews Ventures.”
CEO Matthijs Welle said: “Receiving financing from an experienced enterprise software investor like Vista Credit Partners enables us to expedite our efforts. By investing in both our organic and inorganic growth, we will completely reshape the way hospitality is delivered.
“Hospitality at its core is a human industry, and we are relentlessly focused on driving cloud technology which empowers staff to disconnect from their screens and focus on their guests. We have a huge opportunity to support the world’s most revolutionary hospitality brands to accelerate their digital transformation,” added Welle.
Over the past year, Mews has also expanded its customer base to serve more than 5,500 clients in 85 countries and achieved the milestone of 75,000 platform users across the global hospitality industry.
Amy Mathews, managing director at Vista Credit Partners, said: “As an integral property management system for hospitality brands worldwide, the Mews cloud platform helps to automate core operational, business, and payments processes while empowering staff to provide the best possible guest experiences. We are pleased to provide Mews with a flexible capital solution specifically tailored to its ambitious growth plans as the team drives transformation across the rapidly digitizing global hospitality sector.”
