Stayntouch, the cloud hotel property management systems, has secured $48 million in an equity investment led by Sixth Street Growth.
United-States-based Stayntouch said it will put the funds towards expanding property management software and payment services as well as customer acquisition.
Stayntouch was founded in 2012 and acquired by MCR for $46 million in 2020. Last year it unveiled Stayntouch 2.0, which added a payments platform, booking engine and channel manager to its offering.
Tyler Morse, chairman of Stayntouch, said, “Sixth Street is the perfect strategic partner for Stayntouch as they offer flexible capital solutions and deep operational experience. 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.”
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“Stayntouch’s robust yet intuitive platform empowers hotels to streamline operations and resolve some of today’s greatest obstacles in the hospitality industry,” said Ben Johnston, managing director at Sixth Street Growth.
Back in 2018 Stayntouch had been in the running to be acquired by hotel technology provider Shiji, but the deal was later blocked by U.S. president Donald Trump.