Hospitality tech developer Mews has picked up capital from Goldman Sachs Asset Management and Battery Ventures among backers for its $185m Series C round.
Kinnevik and the growth equity business within Goldman Sachs AM led the round, which also saw participation from Revaia, Derive Ventures and Orbit Capital.
Returning investors included Battery Ventures, Notion Capital, Salesforce Ventures, Thayer Ventures and henQ.
Mews said the fundraise caps a year of significant growth, with revenue over 174% higher year-over-year and gross payment volume up 227% year-over-year to $2.3bn.
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Customers include Nordic Choice, Accor, The Social Hub, Les Airelles, Life House, Pandox and Generator-Freehand.
Richard Valtr, founder of Mews, said, “The hotel industry has come roaring back this year across almost every region and segment.
“At the same time we’re seeing a very changed industry that’s embracing technology to modernize and streamline their operations.
“Our customers are using the Mews Hospitality Cloud to build more resilient and profitable business models with connected guest journeys, subscriptions, hybrid hospitality, long stays, and much more.
“With this funding, we’re going to continue pouring investment into R&D – we have a very exciting pipeline of product releases over the next few quarters.”
Kirk Lepke, managing director in the growth equity business within Goldman Sachs AM, said, “Closing a large round in this environment speaks to the tremendous growth and future potential of Mews.
“Hoteliers have experienced a lot of challenges over recent years, driving increased demand for cloud-native platforms, like Mews, to help them modernize, improve the guest experience, and create efficiencies through smart automation.
“With their open architecture and fully integrated payment capabilities, Mews is heavily relied upon as a mission critical solution.”
Source: AltAssets
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