Amsterdam-headquartered hospitality technology specialist, Mews, has announced it has landed another $75 million in investment, to fuel its expected expansion into the US and the DACH region.
The firm plans to use it to fastrack its platform innovation with AI-powered revenue management capabilities, and drive further strategic acquisitions like its Clarity in January this year and Quotelo in November last year.
This latest round of funding comes after it was announced this time last year that it had closed a $110 million funding round.
Led by investment firm Tiger Global, the raise also saw participation from existing investors, Kinnevik, Battery Ventures and Growth Equity at Goldman Sachs Alternatives.
Mews said it at over 50% year-on-year last year, processed over $10 billion in payments volume, and generated over $200 million in revenue.
“It was clear to us that Tiger Global is a compelling partner for the next chapter of our journey,” said Richard Valtr, founder of Mews.
“Their experience with high-growth technology companies and category winners in the US, including Toast, Procore and ServiceTitan, is invaluable as we continue to expand our footprint, accelerate innovation, and pursue strategic acquisitions.
“This investment reaffirms our dedication to the U.S. market, where we have established strong leadership and have invested over $50 million to expand our business in the last couple of years.”
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He said: “We will continue to invest substantially in the market, reinforcing our long-term strategy of global growth and leadership.”
Matt Welle, CEO of Mews, added: “Our vision has always been to redefine hospitality with spaces that put people at the heart, and this investment propels us even closer to achieving that goal.
“There are so many opportunities for AI to enhance both the guest journey and operational efficiencies in an industry that is so data rich.
“With Tiger Global’s backing, we’re excited to build on the wave of innovation at the intersection of hospitality and AI, with Mews at the center of it.”
Sara Eadie of Tiger Global, said: “Mews is redefining what it means to deliver exceptional guest experiences in the hospitality sector and beyond.
“Our partnership with the Mews team marks an exciting step as they continue to expand in North America and strengthen their global market leadership.”
