Skift Take
Cloudbeds' ability to raise $82 million validates both its strategy and the broader hospitality tech sector. Other notable fundings this week include Checkfront, which helps tours-and-activities operators handle bookings and payments, and SuitePad, which supplies digital tablets to hotel guest rooms.
This week, travel startups announced more than $133 million in funding.
>>Cloudbeds, a provider of enterprise software for hospitality management, raised a Series C minority investment of $82 million.
Viking Global Investors led the round. PeakSpan Capital, Recruit Co., Counterpart Ventures, and Cultivation Capital also participated. The startup had previously raised more than $21 million in venture capital.
Cloudbeds offers software that runs more than 20,000 properties ranging from boutique hotels to hostels, vacation rental managers, and hotel groups with hundreds of rooms.
The San Diego startup will use the funds to build new products and to help managers automate front-end and back-end operational tasks, said co-founder and CEO Adam Harris. It will also add more integrations with third-party services and more tools to help train hoteliers and property hosts.
"Since the beginning, we've broken away from the traditional definitions of PMS [property management system], channel manager, RMS [revenue m
