Amsterdam-based Mews, a cloud-based property management system (PMS), announced that it has secured $110M (approximately €101.39M) in funding led by Kinnevik, with participation from Revaia, Goldman Sachs Asset Management, Notion Capital, and LGVP.

With this round, Mews’ has gained the unicorn status valuing the company at $1.2B (approximately €1.1B).

Akhil Chainwala, Investment Director at Kinnevik, says, “Matt and Richard are building a product and a team that is redefining the hospitality industry. In the short period of time since our initial investment, Mews has outperformed our expectations as it moved into new geographies and segments.”

“Now, we are excited to further back the team to help them realise their ambitions and accelerate even more quickly – especially to extend the platform’s combination of software and payments.”

“We’re looking forward to continuing this journey with Mews and being a part of the transformation that is happening across the industry.”

Capital utilisation

Mews will use the proceeds towards global expansion, research and development, and strategic acquisitions, empowering hospitality organisations worldwide to expedite their digital transformation efforts.

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.”

Matt Welle, CEO of Mews, adds, “This funding is a credit 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.”

“As more hoteliers embrace modern technology, we have a huge opportunity to help them streamline their operations, build more profitable businesses and deliver personalized guest experiences. Mews is in a unique position to truly transform the industry.”

Brief about Mews

Founded in 2012 by ex-hotelier Richard Valtr, Mews emerged from his experience managing a hotel in Prague. Recognising the industry’s reliance on outdated technology, Valtr aimed to transform hotel operations. The company is currently led by CEO Matthijs Welle.

Mews, with its cloud-based system, integrates with numerous tech solutions. Currently, it manages over 350,000 hospitality spaces for 5,000 global clients, including Strawberry Hotels, The Social Hub, and Airelles.

Mews says that the latest funding follows a year of growth with a 60 per cent Y-o-Y revenue surge, surpassing $100M in annualised net revenue. 

The company’s Gross Payment Volume exceeds $8B, annual hotel check-ins reach 16 million globally, and the marketplace integrates with over 1,000 leading hospitality technologies. 

Additionally, Mews acquires three new companies—Frontdesk Anywhere, Hotello, and Nomi—bringing the total number of acquisitions to eight.