About Mews
Mews is a comprehensive property management system (PMS) targeted at modern hoteliers and their guests. The company defines itself as the hospitality system of the future through their innovative, cloud-based, modular software solutions whilst providing a great UX for hotels. This extends into a better experience for the hotelier’s customers.
Financial Times ranking
Mews has again been ranked in the ‘Financial Times 1000 list of fastest growing companies’. Clearly, a winning team that knows how to align their business, go-to-market strategy, product and growth.
Let’s talk about how Mews aligned their funding to support their corporate strategy.
Mews’s product and how they added value into their business model
Mews currently powers around 3000 of the world’s best hospitality brands. The Mews product simplifies and automates all operations for hoteliers and their guests. Hoteliers can tailor a solution suitable to their needs and scale it to suite their requirements. Mews’s goal is to make the experience easier, faster, more connected and with their payments solution, each transaction is secure and seamless.
The creation of their ever-expanding innovative, comprehensive PMS software solution is based on product principles of integrations, partnerships, and acquisitions. Mews has more than 600 integration partners who add additional product offerings into the various PMS modules.
Their product quality and strong organic growth have attracted an impressive roster of venture capital investors, including Battery Ventures, Notion Capital, HenQ and Thayer Ventures. Mews raised equity from these firms to fund its operations and reach a stage where it can raise more equity from new, later-stage equity investors.
Let’s tie the next strategy in.
Mews’s dynamic acquisition strategies
Mews has used select acquisitions to implement its strategy in two ways.
Firstly, they have extended their product offering through acquisition of an integration partner. Mews recently purchased Bizzon, a company providing a cloud-based point-of-sale (POS) solution built for restaurants located in hotels. Owning Bizzon allows Mews to integrate the two systems more tightly and to drive product direction.
Secondly, Mews has purchased local legacy PMS companies. Opportunities where customer acquisition cost and weighted conversion uptake of hoteliers compares favourably to the traditional direct selling model, Mews acquires the PMS. Once hoteliers are converted to Mews’s PMS, it opens the sales channels to upsell, in time, more modern modules of Mews’s comprehensive PMS SaaS offering.
How CLP’s funding helped support Mews’s corporate strategy
# Mews funded operations with equity to reach the next development stage when they could raise more equity from later-stage investors.
# CLP provided an acquisition facility to fund the cash portion of acquisitions when they arose.
# With CLP’s help, Mews could move quickly on acquisitions, giving them a competitive advantage.
# Mews continued funding its operations from the equity raised without having to alter their plans because they had CLP’s capital when needed for acquisitions.
“ Knowing that we had CLP’s flexible financing capital available as and when we needed it, allowed us to move on opportunities that support our accelerated growth strategy, ” says Richard Valtr, founder and CEO of Mews.
Mews knows how to unlock value through their business strategies. An even greater value is attained by applying the correct funding model to their corporate strategy.
CLP has helped Mews to be aggressive in the market by acquiring smaller PMS’s and acquiring products, such as Bizzon, to increase their total value to their customers.