The investment will fuel Mews' M&A program to further establish the company as a market leader
NEW YORK, Sept. 26, 2024 - Mews, the industry-leading hospitality cloud, today announced $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.
As cloud adoption accelerates across the $15.5 trillion global travel and tourism industry, the new financing will expedite Mews' growth and strengthen its M&A program to further establish the company as a market leader. The company'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. We have a huge opportunity to support the world's most revolutionary hospitality brands to accelerate their digital transformation," Matt Welle, CEO of Mews, commented. "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, Founder of Mews, 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."
Over the past year, Mews has demonstrated significant momentum and continued growth. Milestones include:
A valuation crossing $1 billion
Expanding its customer base to serve over 5,500 customers in 85 countries, including Strawberry, The Social Hub and Airelles Collection
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-date1
Mews has also continued to add innovative 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.
Amy Mathews, Managing Director at 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."
About Mews
Mews is the leading platform for the new era of hospitality. Powering over 5,500 customers across more than 85 countries, Mews Hospitality Cloud is designed to streamline operations for modern hoteliers, transform the guest experience and create more profitable businesses. Customers include Generator-Freehand, The Strawberry Group, The Social Hub and Airelles Collection. Mews was named Best PMS (2024) and listed among the Best Place to Work in Hotel Tech (2021, 2022, 2024) by Hotel Tech Report, as well as World's Best Hotel PMS Provider (2023) and World's Best Independent Hotel PMS Provider (2022, 2023) by World Travel Tech Awards. Mews has raised $335 million from investors including Goldman Sachs Alternatives, Kinnevik and Revaia to transform hospitality.
About Vista Credit Partners
Vista Credit Partners is the credit-investing arm of Vista Equity Partners and is a strategic investor and financing partner focused on the growing enterprise software, data, and technology markets. Vista Credit Partners employs a highly disciplined approach to credit investing while maintaining flexibility to pursue investments offering the best relative value and investing across the capital structure. As of March 31, 2024, Vista Credit Partners has grown to over $8.1 billion of assets under management. Since its formation in 2013 and as of June 30, 2024, Vista Credit Partners has deployed over $12.2 billion. For more information, please visit www.vistacreditpartners.com.
Vista Credit Partners offers solutions tailored to strategic objectives with growth-friendly terms and long-term investment horizons across both the private and broadly syndicated markets, sourcing deals directly from founder-led companies, through sponsor relationships, and from its deep network of experts, advisors, and other intermediaries to support growth and unlock value through creative capital solutions and operational partnership. Vista Credit Partners has completed more than 620 software and technology transactions since its inception.
Media Contacts
Mews
Katie Halfhead: +447795 821799 / press@mews.com
Vista Credit Partners
Brian W. Steel: (212) 804-9170 / media@vistaequitypartners.com
1 1st January- 31st August 2024
SOURCE Mews
