Mews secures 110 million US dollars

Mews receives an investment of 110 million US dollars, led by Kinnevik, to advance its cloud-based technology in the hospitality industry worldwide. This raises the valuation to unicorn status.

The Amsterdam-based company Mews has raised 110 million US dollars in a new financing round. The round was led by Kinnevik, together with other investors such as Revaia, Goldman Sachs Alternatives, Notion Capital and new investor LGVP. The funding gives Mews a valuation of 1.2 billion US dollars and the coveted unicorn status.

We are seeing a fundamental shift in the way the world's leading hotel brands are accelerating their digital transformation and reshaping hospitality.

Richard Valtr, founder of Mews

Founded in 2012 by Richard Valtr, a former hotelier, Mews has a vision to revolutionize the hotel industry through a cloud-based system solution. Valtr recognized the outdated and local technology-based hotel industry during his time as a night receptionist. Mews now manages over 350,000 hospitality properties worldwide for more than 5,000 clients.

Focused use of funding

The fresh funding will be used to prioritize global expansion, research and development and acquisitions. In the DACH market (Germany, Austria, Switzerland) in particular, Mews sees great potential for growth and the implementation of its solutions.

Matt and Richard are building a product and a team that is redefining the hospitality industry.

Akhil Chainwala, Investment Director at Kinnevik

Impressive key figures after one year of growth

After a year of significant growth, Mews is reporting impressive metrics, including 74% revenue growth in the German market and 65% customer growth in the DACH region. The overall sales increase is over 60% compared to the previous year. Three acquisitions last year (Frontdesk Anywhere, Hotello and Nomi) brought the total number of hospitality companies acquired to eight.

This funding is a tribute to the strength of our vision, the Mews team, our forward-thinking customers and committed investors who have helped us get to where we are today.

Matt Welle, CEO of Mews

Further funding and future outlook

The latest funding complements the company's $185 million investment round in December 2022, led by Kinnevik and the Growth Equity business within Goldman Sachs Asset Management. Mews plans to use the funds to accelerate the execution of its expansion and development strategy.