Mews Secures \(110M at \)1.2B Valuation to Revolutionize Hotel Tech
The Hospitality Tech Boom Continues
The global tourism industry has made a strong post-pandemic recovery, generating $2.23 trillion in 2023 - surpassing pre-COVID levels for the first time. This resurgence is fueling growth for technology providers serving the sector, with Mews emerging as a standout player. The Amsterdam-based hotel SaaS platform recently announced a \(110 million Series D funding round at a \)1.2 billion valuation.
Funding Details and Growth Trajectory
- Lead Investor: Kinnevik
- Valuation: $1.2 billion (post-money)
- Previous Round: \(185 million Series C in December 2022 at \)865 million valuation
- Current Status: Not yet profitable, but demonstrating strong growth metrics
Key Growth Indicators:
- Gross Payment Volume: \(8 billion (up from \)2.3 billion in 2022)
- Customer Base: 5,000+ hotels (compared to 3,253 a year ago)
- Enterprise Clients: Includes major chains like Accor, Generator-Freehand, and The Strawberry Group
Product Offering and Market Strategy
Mews provides a comprehensive SaaS platform that helps hotels manage:
- Front-desk operations
- Payment processing
- Reservations
- Housekeeping management
- Guest-facing booking services
The company has pursued an aggressive acquisition strategy, purchasing eight hotel tech startups including Frontdesk Anywhere, Hotello, and Nomi in the past year alone.
Leadership Vision and Market Focus
CEO Matt Welle emphasized the company’s mission: “As more hoteliers embrace modern technology, we have a huge opportunity to help them streamline their operations.”
While founder Richard Valtr previously discussed expanding into residential and mixed-use properties, the company currently maintains strong focus on the hotel sector, with some offerings for serviced apartments.
Investor Confidence in Hospitality Tech
The funding round attracted notable participants including:
- Revaia
- Goldman Sachs Alternatives
- Notion Capital
- New investor LGVP
Alexander Lippert of Goldman Sachs Asset Management noted: “Mews is making a transformative impact to support some of the most innovative hospitality brands as cloud adoption accelerates across the $15.5 trillion global travel industry.”
This investment comes at a time when European investors are becoming more selective, favoring companies with clear paths to profitability and market leadership in their sectors.
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