Cloudbeds raises $82M in growth capital to drive the future of hospitality technology

SAN DIEGO, March 11, 2020 /PRNewswire/ -- Today, Cloudbeds, the fastest growing hospitality management solution, announced a series C minority investment of $82 million, led by Viking Global Investors with participation from PeakSpan Capital, Recruit Co., Ltd., Counterpart Ventures, and Cultivation Capital.

Cloudbeds is revolutionizing hospitality technology in a segment that has been widely neglected by traditional providers. Powering more than 20,000 properties in 157 countries, Cloudbeds has quickly become the leading hospitality management solution for all property types and sizes, from boutique hotels to hostels, vacation rental managers, and hotel groups with hundreds of rooms.

"This has been an incredible journey. Last year, we surpassed 1,000,000 rooms on our system and continue to add tens of thousands of new rooms every week. With this new funding, we want to triple down on innovation and continue to transform the hospitality industry to help hoteliers and hosts meet the needs of the next generation of travelers," says Adam Harris, CEO and Co-Founder.

Richard Castle, COO and Co-Founder, adds: "Cloudbeds is just getting started. Since the beginning, we've broken away from the traditional definitions of PMS, Channel Manager, RMS, Analytics, and Booking Engine. Hoteliers need a complete solution that provides the insights and flexibility to better understand their property and guests, and ultimately deliver a better guest experience."

Cloudbeds will use this growth capital to further invest in its technology platform to meet the evolving needs of the hospitality industry. Focuses include:

• New products designed to deepen hoteliers' connections with guests while increasing revenue;
• Enhanced automation to save operational costs with a focus on simplifying both front-and back-office tasks;
• Expansion of Cloudbeds' industry-leading API to unlock new opportunities through seamless connections to its marketplace;
• A commitment to education and training for the next generation of hoteliers and hosts

Hoteliers and hosts can learn more about Cloudbeds and schedule a personalized demo here.

About Cloudbeds

Cloudbeds is the fastest growing hospitality management suite in the world, providing tools to manage properties of any type and size. Cloudbeds' award-winning software is trusted by more than 20,000 hotels, hostels, inns, and alternative accommodations in 157 countries. Cloudbeds helps properties grow revenue and automate their workflows with confidence and ease while delivering a better experience for guests everywhere. Founded in 2012, Cloudbeds has expanded to over 400 people with local teams in 40 countries, speaking over 30 languages.

For more information, please visit www.cloudbeds.com or reach us at Facebook.com/cloudbeds and on Twitter at @cloudbeds.

SOURCE Cloudbeds

Related Links

http://www.cloudbeds.com