Amsterdam-based Mews, a provider of hospitality management cloud, announced on Thursday that it has secured $100M (approximately €90M) in financing from Vista Credit Partners, the subsidiary of Vista Equity Partners.
Vista Credit Partners is a strategic credit and financing partner focused on the enterprise software, data, and technology markets.
Richard Valtr, Founder of Mews, comments, “The market is ripe for consolidation. Having successfully acquired nine companies to date, the funds from Vista Credit Partners further progress our position to continue investing in M&A via our investment and corporate development arm, Mews Ventures.”
The announcement comes six months after raising €101.39M in a funding round at a valuation of $1.2B, gaining unicorn status.
To date, Mews has raised $335M (approximately €300M) from investors including Goldman Sachs Alternatives, Kinnevik, and Revaia to transform hospitality.
Fund utilisation
The Dutch company will use the funds to speed up its M&A program to solidify its position as a market leader.
To date, Mews Ventures, the company’s investment and corporate development arm, has acquired nine hospitality companies.
It will also continue to invest in technology and teams to accelerate technological transformation across the hospitality industry.
Matt Welle, CEO of Mews, says, “Receiving financing from an experienced enterprise software investor, like Vista Credit Partners, enables us to expedite our efforts. By investing in both our organic and inorganic growth, we will completely reshape the way hospitality is delivered.”
Mews: Empowering modern hotelier to improve performance
Founded in 2012 by Richard Valtr, Mews has developed its cloud platform — Mews Hospitality Cloud to streamline operations for modern hoteliers, transform the guest experience, and create more profitable businesses.
“Hospitality at its core is a human industry, and we are relentlessly focused on driving cloud technology which empowers staff to disconnect from their screens and focus on their guests. We have a huge opportunity to support the world’s most revolutionary hospitality brands to accelerate their digital transformation,” adds Welle.
Over the past year, the Dutch company has achieved various milestones. It includes reaching a valuation of over $1B and expanding its customer base to serve over 5,500 clients in 85 countries, such as Strawberry, The Social Hub, and Airelles Collection.
The company claims to have increased its customer base in North America by 250 per cent in the last 12 months, surpassing 75,000 platform users worldwide in the hospitality industry, and achieving a 54 per cent growth in gross payment volume, totaling over $8B year-to-date.
The company also added product functionalities, from its AI-driven smart search to provide users with a context-rich intelligent assistant, to its next-generation Mews Kiosk solution which has seen hotels cut check-in times by a third.
The investor
Vista Credit Partners is the credit-investing arm of Vista Equity Partners and is a strategic investor and financing partner focused on the growing enterprise software, data, and technology markets.
As of March 31, 2024, Vista Credit Partners has grown to over $8.1B of assets under management. Since its formation in 2013 and as of June 30, 2024, Vista Credit Partners has deployed over $12.2B.
Amy Mathews, Managing Director at Vista Credit Partners, adds, “As an integral property management system for hospitality brands worldwide, the Mews cloud platform helps to automate core operational, business, and payments processes while empowering staff to provide the best possible guest experiences. We are pleased to provide Mews with a flexible capital solution specifically tailored to its ambitious growth plans as the team drives transformation across the rapidly digitizing global hospitality sector.”
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