The Netherlands: Amsterdam-based hospitality cloud Mews has become a unicorn, valued at $1.2 billion following its latest funding round of $110 million from existing and new investors.
The $110 million funding was led by existing investor Kinnevik, alongside Revaia, Goldman Sachs Alternatives, Notion Capital, and new investor LGVP.
Mews plans to use the funds for global expansion, research and development, and acquisitions.
Richard Valtr, Mews founder, said: “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. 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.”
Matt Welle, CEO of Mews, added, “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. As more hoteliers embrace modern technology, we have a huge opportunity to help them streamline their operations, build more profitable businesses and deliver personalised guest experiences. Mews is in a unique position to truly transform the industry.”
Akhil Chainwala, investment director at Kinnevik, said: “Matt and Richard are building a product and a team that is redefining the hospitality industry. 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 realise 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.”
Alexander Lippert, managing director in growth equity at Goldman Sachs Alternatives, said: “Mews is making a transformative impact to support some of the most innovative hospitality brands around the world as cloud adoption accelerates across the $15.5 trillion global travel and tourism industry. With the increased demand for modern technology, Mews and its industry-leading platform is positioned to enable an even wider set of hospitality customers to transform their operations, diversify their revenue and improve the guest experience.”
In December 2022, Mews closed a Series C funding round of $185 million which at the time brought the total amount raised to date to $225 million.
