Mews has raised $100 million in financing from Vista Credit Partners, the subsidiary of Vista Equity Partners and a strategic credit and financing partner focused on the enterprise software, data and technology markets.
The new financing will expedite Mews’ growth and strengthen its M&A program, according to the company. The technology firm’s investment and corporate development arm, Mews Ventures, has acquired nine hospitality companies to date, and will continue to invest in technology and teams to accelerate technological transformation across the hospitality industry.
“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,” said Matt Welle, CEO, Mews. “We have a huge opportunity to support the world’s most revolutionary hospitality brands to accelerate their digital transformation. 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.”
Richard Valtr, Mews founder, commented, “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.”
Milestones achieved by Mews over the last year include:
- A valuation crossing $1 billion
- Expanding its customer base to serve more than 5,500 customers in 85 countries
- Increasing customers in North America by 250% in the last 12 months
- Surpassing 75,000 hospitality staff platform users worldwide
- 54% growth in gross payment volume to over $8 billion year-to-date
Mews has also continued to add new 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, according to the company.
Amy Mathews, managing director, Vista Credit Partners, added, “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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Source: hotelbusiness.com
