In December 2023, Advent Partners 3 Fund completed an investment into RMS Cloud, a leading provider of cloud-based SaaS Property Management Software (PMS) for the accommodation sector, including serviced apartments, campgrounds & parks, hotels, motels and other lodging forms.
Founded in 1983, RMS offers an all-in-one PMS solution with a suite of features, including bookings, reservation management, marketing, channel management, housekeeping, back office and compliance reporting. Recently, RMS launched a payment processing service “RMS Pay” to monetise the AUD$7 billion of gross transaction value from its existing customer base. RMS has c.160 staff and is headquartered in Melbourne, Australia.
Advent’s investment thesis is focused on;
- Supporting the go-to-market in international markets
- Accelerating the penetration of RMS pay in the existing customer base
- Continuing to invest in the product to build the platform’s functionality advantage,
- Building back-office capabilities
- Retaining and attracting management talent to support growth and eventual exit.
