The tourism industry is experiencing a strong recovery post-Covid-19, with global revenue reaching $2.23 trillion in 2023, surpassing pre-pandemic levels for the first time since 2020. This surge in tourism is fueling growth in startups that provide technology solutions for the sector. Mews, a startup specializing in tools for hotel IT management, has announced a $110 million growth round to expand its business.
The funding, led by Kinnevik, values Mews at $1.2 billion post-money, marking a slight increase from the company’s previous Series C round in 2022. Despite the growth, Mews has confirmed that it is not yet profitable.
Mews offers SaaS tools for hoteliers, covering a range of services including front-desk check-in, payments, reservations, and housekeeping management. The company has seen significant growth with a gross payment volume of $8 billion and over 5,000 hotel customers, including major chains like Accor and Generator-Freehand.
To drive profitability, Mews has been focused on acquiring other startups in the hotel IT space, with a total of eight acquisitions to date. The company’s long-term strategy includes expanding beyond hotels to service a wider customer base in the hospitality sector.
CEO Matt Welle emphasized the company’s commitment to helping hoteliers streamline their operations through modern technology. Investors, including Kinnevik, Revaia, and Goldman Sachs Alternatives, have shown confidence in Mews’ potential for transformation within the global travel and tourism industry.
