Stayntouch, a cloud hotel property management systems (PMS) company, has secured $48 million in financing in a strategic growth equity investment led by Sixth Street Growth, the technology growth investing arm of Sixth Street.
Founded in 2012 and acquired by MCR in 2020, Stayntouch offers a cloud PMS for hotels to streamline operations and connect front and back office functions, including reservations, front desk operations, payments, revenue management and reporting and multi-property management. In October 2022, the company launched Stayntouch 2.0, which expanded its technology suite to offer an end-to-end payments platform, a customizable booking engine, a channel manager and robust chain management capabilities.
The company will use the additional capital to expand its PMS software and payments offerings, accelerate customer acquisition and continue to deliver superior customer service to independent hotels, management companies and hotel chains globally, it reports. Since inception, more than $200 million has been invested in the growth of Stayntouch and the development of its cloud-based software products.
“Sixth Street is the perfect strategic partner for Stayntouch as they offer flexible capital solutions and deep operational experience,” said Tyler Morse, chairman, Stayntouch. “Their collaborative team brings operational and management expertise along with an in-depth understanding of Stayntouch as a business. We believe Sixth Street will help accelerate the company’s growth plans while strengthening its technology offerings to better serve clients and hotels globally.”
Ben Johnston, managing director, Sixth Street Growth, added, “Stayntouch’s robust yet intuitive platform empowers hotels to streamline operations and resolve some of today’s greatest obstacles in the hospitality industry. Stayntouch’s innovative cloud-based PMS is the future of hotel technology, and we are confident they are best positioned to capitalize on the growth opportunity going forward.”
As part of the investment, Michael Bauer of Sixth Street Growth will join the board in supporting the company to achieve its next phase of growth.