Cloudbeds raises $150m to support rapid company growth
Summary
US: San Diego-based SaaS company Cloudbeds has announced that it has raised $150 million in Series D funding from new and existing investors to continue growing its team, accelerating customer acquisition, expanding its product offerings, and investing in delivering best-in-class technology to the industry. Adam Harris, CEO and co-founder of Cloudbeds, said: “Our customers operate a range of hospitality businesses, and what they all have in common is the desire to increase their reservations and deliver a modern, memorable guest experience. Richard Castle, COO and co-founder of Cloudbeds, said: “We constantly invest in building, expanding, and refining the tools and technology our customers need to stay competitive, and this financing will help us accelerate that effort. The strategy includes investing heavily in the verticalisation of Cloudbeds’ platform to provide a solution for lodging businesses and expanding into new markets. Cloudbeds has already scaled to more than 20,000 properties worldwide and we look forward to working with the team to support their goal of creating more meaningful travel experiences between owners, operators, and their guests.” The Cloudbeds Hospitality Platform is designed to combine tools for operations, revenue management, guest experience, and marketing with a marketplace of third-party integrations to help hosts and independent hoteliers grow revenue, streamline operations and deliver memorable guest experiences.
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