Hotel Tech Startup Mews Manages Hefty $185 Million Raise
Photo Credit: Bush Hotel Farnham (pictured) in the southern U.K. is a client of Mews. Wikimedia Commons
Skift Take
Raising $185 million in hotel tech at all, especially in this economic climate, is an endorsement of the product Mews has built — but more importantly shows the potential investors see in modernizing the market at this precise time.
The hotel tech startup Mews has raised $185 million, a number high above typical venture capital fundraises in that industry.
The highest hotel tech fundraise in recent years was by Cloudbeds, which raised $150 million in 2021.
The fundraise — led by Kinnevik and Goldman Sachs Asset Management — sets the valuation for Mews at $860 million, said founder Richard Valtr, a number that may have been higher in what experts agree was an inflated market over the past couple of years. Now, raising money is harder because of uncertain economic conditions.
“It’s pretty brutal,” Valtr said. Regardless, the valuation is 4.5 times higher than what it was when the company raised $33 million in 2019..
“I think that most people were kind of expecting us to be way over a unicorn at this stage. But I think it reflects basically where valuations are in the market,” Valtr said. “I think that what you see now is, basically, the co
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