Mews lands $100M to fuel M&A strategy

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Dive Brief:

• Hospitality technology provider Mews raised $100 million in new financing from Vista Credit Partners to accelerate “organic and inorganic growth,” according to a company release obtained by Hotel Dive. 
• A company spokesperson said the funding will allow Mews’ venture and investment arm, Mews Ventures, to “take bigger bets” as part of its mergers and acquisitions strategy, which has already seen the company acquire nine technology firms. Mews Founder Richard Valtr said the hotel technology space is “ripe for consolidation.” 
• Mews, which launched in 2012 with the aim to migrate hotel technology to the cloud, hit unicorn status earlier this year at a valuation of $1.2 billion. The Amsterdam-based company is in the midst of a push to expand in the U.S.

Dive Insight:

Within the past year, Mews has expanded its customer base to 5,500 clients across 85 countries, the company shared. In North America, specifically, Mews said it has more than doubled its number of customers in the past 12 months. 

Mews CEO Matthijs Welle said the company is “relentlessly focused on driving cloud technology which empowers staff to disconnect from their screens and focus on their guests.” 

“Receiving financing from an experienced enterprise software investor, like Vista Credit Partners, enables us to expedite our efforts,” he added, in a statement. “By investing in both our organic and inorganic growth, we will completely reshape the way hospitality is delivered.”

In April, Welle told Hotel Dive that Mews has acquired a good deal of its growing customer base through acquisitions of other hospitality tech startups, such as AI-powered guest insights provider Nomi and hotel management software developer Frontdesk Everywhere. 

When Mews hit unicorn status this spring, Welle told Hotel Dive that the company planned to expand in the U.S. It first entered the country in 2019, but “then COVID hit, so it was hard for us,” he said. “Now, we’ve got about 100 people on the ground.” 

In May, Mews acquired the German-founded property management system HS3 Hotelsoftware in a bid to expand in Germany. Mews did not disclose further terms of the acquisition.

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