Prague-based hotel management software provider Mews has raised an additional $110 million in funding led by Kinnevik, with participation from Revaia, Goldman Sachs Asset Management, Notion Capital, and LGVP. Following the round, the company’s valuation has reached €1.1 billion in total.
- Launched in 2012 by Richard Valtr, Mews develops a cloud-based property management system for hotels and apartments that helps simplify operations and automate customer and guest management, manual tasks, payments, and booking management, assisting in streamlining operations for hoteliers and transforming the guest experience.
- Mews, with its cloud-based system, integrates with numerous tech solutions. Currently, it manages over 350,000 hospitality spaces for 5,000 global clients, including the likes of Strawberry Hotels, The Social Hub, and Airelles.
Continuing the great work from 2023 and expanding on our product innovation. Of course, this year will be a big year for AI in hospitality, and I really look forward to seeing our teams release the first of these features to make sure Mews is at the forefront of AI innovation,
Richard Valtr, founder of Mews, shares the plans.
- Mews says that the latest funding follows a year of growth with a 60 per cent year-over-year revenue surge, surpassing $100 million in annual net revenue. The company claims its Gross Payment Volume exceeds $8 billion and annual hotel check-ins reach 16 million globally. Additionally, Mews acquired three new companies — Frontdesk Anywhere, Hotello, and Nomi.
- The fresh investment was led by existing Swedish investor Kinnevik and global Goldman Sachs Asset Management. In 2022, these they led $110 million Series C investment round for Mews. Revaia, Notion Capital, and new investor LGVP also participated in the financing.
Mews will use the funding towards global expansion, research and development, as well as strategic acquisitions while helping hospitality organizations worldwide to expedite their digital transformation efforts.
