The new capital for the Czech Unicorn, but based in Amsterdam, will also be used to speed platform innovation such as artificial intelligence-powered revenue management capabilities and for strategic acquisitions.
The funding was led by Tiger Global, with input from existing investors including Kinnevik, Battery Ventures and Growth Equity at Goldman Sachs Alternatives.
“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,” said Matt Welle, CEO of Mews. “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.”
The company said the funding represents a “pivotal moment” in Mews’ efforts to grow, particularly in the U.S. The company has seen growth in North America including a twofold revenue increase year over year in the region, two times the number of hospitality brands that are using Mews and more than double the rooms and areas managed by Mews.
“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 U.S., 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. We will continue to invest substantially in the market, reinforcing our long-term strategy of global growth and leadership.”
Mews has raised significant funding over the last year or so. The company brought in $100 million in financing in September to help with growth and raised $110 million last March.
Sara Eadie, Tiger Global, commented: “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.”
