Mews, a leading cloud-based property management system (PMS) provider, has announced a significant funding round of $110M (approximately €101.39M), led by Kinnevik, with participation from Revaia, Goldman Sachs Asset Management, Notion Capital, and LGVP. This investment propels Mews into unicorn status, valuing the company at $1.2B (approximately €1.1B).
Akhil Chainwala, Investment Director at Kinnevik, praised the Mews team for their innovative approach to 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,” Chainwala remarked.
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Utilizing Capital for Global Expansion and Innovation
The dutch firm plans to use the funding for global expansion, research and development, and strategic acquisitions, aiming to empower hospitality organizations worldwide to accelerate their digital transformation efforts. Richard Valtr, Mews’ founder, emphasized the shift in how leading hospitality brands are embracing digital transformation to enhance service delivery.
Building Industry-Leading Products
CEO Matt Welle highlighted the funding as a testament to the strength of the vision, team, customers, and investors. “As more hoteliers embrace modern technology, we have a huge opportunity to help them streamline their operations, build more profitable businesses and deliver personalized guest experiences,” Welle stated.
About the Unicorn
Founded in 2012 by ex-hotelier Richard Valtr, Mews emerged from Valtr’s experience managing a hotel in Prague and recognizing the industry’s reliance on outdated technology. Today, the company manages over 350,000 hospitality spaces for 5,000 global clients, including Strawberry Hotels, The Social Hub, and Airelles, processing over 16 million hotel check-ins annually.
With this latest funding round, the new unicorn is set to continue its mission of leading the way in hospitality technology, transforming the interaction between hospitality brands and guests with its innovative cloud-based system.
