Czech Republic: Hotel technology provider Mews has raised $185 million in Series C financing led by equity investment firm Kinnevik and the growth equity business within Goldman Sachs.
The latest funding round saw participation from Revaia, Derive Ventures and Orbit Capital, along with returning investors including Battery Ventures, Notion Capital, Salesforce Ventures, Thayer Ventures and henQ.
It brings the total amount raised to date to $225 million. The funding will be used to accelerate product innovation, global expansion, and mergers and acquisitions.
“Our mission is to transform the hospitality industry with cloud solutions that make hospitality more rewarding for everyone,” said Matthijs Welle, CEO of Mews. “This funding will allow the team to accelerate some very ambitious product and engineering plans, continue our international expansion, and ensure we can serve the most forward-thinking hotel owners and operators in the world.”
Richard Valtr, founder of Mews, added: “The hospitality industry has come back strongly this year in almost all regions and segments. At the same time, we are seeing a vastly changed industry that is 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 travel, subscriptions, hybrid hospitality, extended stays, and much more. With this financing, we are going to continue investing in R&D; we have a very interesting pipeline of product launches in the coming quarters.”
This year, Mews has announced partnerships with Leading Hotels of the World and Relais & Châteaux, has acquired F&B management and the POS platform. Biscuitand released Mews for Salesforce, as well as Mews Ventures.
Akhil Chainwala, Chief Investment Officer at kinneviksaid: “Richard, Matthijs and the broader Mews team have a deep 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 industry’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 their journey.”
Kirk Lepke, managing director in the growth capital business within asset management at Goldman Sachs, said: “Hoteliers have faced many challenges in recent years, driving increased demand for cloud-native platforms such as Mews, to help them modernize, improve guest service. experience and create efficiencies through intelligent automation. With its open architecture and fully integrated payment capabilities, Mews is a highly trusted, mission-critical solution.”
