In a nutshell:
- Czech Mews, a cloud-based property management system, announced that it secured $110M.
- The round was led by Kinnevik, with the participation of Revaia, Goldman Sachs Asset Management, Notion Capital, And LGVP.
- With this round, Mews’ has gained the unicorn status, valuing the company at $1.2B.
Their background story:
Mews was established in 2012 by former hotel manager Richard Valtr, who recognized the industry’s need for new technology. The company emerged from his experience managing a hotel in Prague, to transform hotel operations.
Mews, with its cloud-based system, integrates with numerous tech solutions. It manages over 350K hospitality spaces for over 5K global clients, including Strawberry Hotels, The Social Hub, and Airelles.
According to their data, the company’s gross payment volume exceeds $8B, annual hotel check-ins reach 16M globally, and the marketplace integrates with more than 1K hospitality technologies. Additionally, Mews acquired three new companies, Frontdesk Anywhere, Hotello, and Nomi, bringing the total number of acquisitions to eight.
The company’s last funding round was in 2022, securing $185M in Series C. The lead investors were Kinnevik and Goldman Sachs Asset Management, accompanied by Revaia, Derive Ventures and Orbit Capital.
In their own words:
Richard Valtr, Mews’ founder, says, “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.”
Investors’ perspective:
Alexander Lippert, Managing Director in Growth Equity at Goldman Sachs Asset Management, shared, “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.”
Next steps:
Mews will utilize the investment in further global expansion, research and development, and strategic acquisitions, empowering hospitality organizations worldwide to expedite their digital transformation efforts.
