Mews Secures $110M Funding, Surges to $1.2B Valuation
Mews, a company specializing in cloud-based software for hotel management, has secured an investment of $110 million in its latest funding round. The round was led by Kinnevik and saw participation from reputable investors. This new capital brings the startup’s valuation to $1.2 billion, signaling its growth prospects within the hospitality sector.
With the global tourism industry rebounding post-COVID-19, startups like Mews are capitalizing on the resurgence. The Amsterdam-based firm offers a suite of SaaS tools designed to streamline various aspects of hotel operations, catering to hoteliers and guests alike.
Although Mews remains unprofitable, its revenue trajectory is impressive. Gross payment volume has soared to $8 billion, a significant increase from $2.3 billion two years ago. The company boasts over 5,000 hotel customers, including major chains like Accor and Generator-Freehand.
Mews is not only focusing on organic growth but also pursuing strategic acquisitions to bolster its market position. Over the past year, it has acquired three other startups in the hotel IT space. While Mews initially aimed to diversify beyond hotels, its current emphasis remains squarely on the hospitality sector. Matt Welle, the CEO, sees a big opportunity in helping hotels modernize their operations with technology.
Mews’ latest funding round shows investor confidence in its ability to revolutionize hospitality through innovation and expansion in hotel management. With a focus on scalability and efficiency, the company is poised to capitalize on the resurgence of global tourism and drive further growth in the years to come.
