On 26th September 2024, Mews, a leading hospitality cloud platform, announced a significant financing round of $100 million from Vista Credit Partners, a subsidiary of Vista Equity Partners. This strategic investment aims to accelerate Mews’ growth trajectory and enhance its mergers and acquisitions (M&A) programme as the global travel and tourism sector continues to embrace cloud technology.
Matt Welle, CEO of Mews, stated, “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.” He emphasised the vast potential to support innovative hospitality brands in their digital transformation efforts.
Accelerating M&A Efforts
Mews Ventures, the company’s investment and corporate development arm, has successfully acquired nine hospitality companies to date. With the new funding from Vista Credit Partners, Mews aims to expand its M&A activities further. Richard Valtr, the Founder of Mews, remarked, “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.”
This strategic direction aligns with the growing demand for advanced technological solutions in hospitality, which is estimated to be a $15.5 trillion industry.
Recent Milestones
Over the past year, Mews has achieved several significant milestones, which reflect its robust growth and increasing market presence:
A valuation surpassing $1 billion
Expansion of its customer base to over 5,500 brands across 85 countries, including notable names like Strawberry and The Social Hub
A remarkable 250% increase in North American customers within the last 12 months
Over 75,000 hospitality staff using its platform worldwide
A 54% growth in gross payment volume, exceeding $8 billion year-to-date
In addition, Mews has rolled out innovative features such as AI-driven smart search capabilities and the Mews Kiosk solution, which has reduced hotel check-in times by one-third.
Commitment to Customer Experience
Amy Mathews, Managing Director at Vista Credit Partners, noted, “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.” She expressed confidence in Mews’ potential, stating, “We are pleased to provide Mews with a flexible capital solution specifically tailored to its ambitious growth plans.”
Conclusion
The financing from Vista Credit Partners marks a pivotal moment for Mews as it seeks to enhance its capabilities in the hospitality sector. With a focus on M&A and technological innovation, Mews is poised to reshape the delivery of hospitality services, reinforcing its commitment to improving customer experiences while navigating the rapidly digitising landscape of the industry.
