Live entertainment discovery platform Fever has raised $227 million in a funding round that values the company at more than $1 billion (€900m).
Led by Goldman Sachs, the round is said to be the largest ever for a live entertainment tech startup and attracted investors including Alignment Growth, Goodwater Capital and Smash Capital. Eurazeo and Vitruvian Partners have also participated through a secondary investment of an undisclosed amount.
Based in Madrid, Spain and New York, US, Fever is led by Spaniards Ignacio Bachiller Ströhlein, Alexandre Perez Casares, and Francisco Hein. The platform makes personalised recommendations for users to enjoy unique, in-person local experiences such as immersive exhibitions, interactive theatrical experiences and festivals. It also collaborates with event organisers to create new attractions through its Fever Originals series.
“DESPITE THE CHALLENGES OF THE PANDEMIC AND THE NOVELTY OF THE METAVERSE, THERE HAS NEVER BEEN A BETTER TIME FOR THRILLING AND WELL-CURATED IRL EVENTS”
“We’re proud of our role in empowering experience creators to deliver memorable real-life experiences to millions around the world seeking to share unique moments,” says Fever CEO Bachiller Ströhlein. “Despite the challenges of the pandemic and the novelty of the metaverse, there has never been a better time for thrilling and well-curated IRL [in real life] events. Fever and the amazing event creators who use our platform are well-placed to meet the zeitgeist.”
Fever, whose largest market is the US, has grown its revenues 10x since its last financing round in 2019 and has expanded its international presence from three cities five years ago, to over 60 cities across Europe, America, Asia, and Oceania.
“Fever’s ability to grow revenue ten-fold in the last two years demonstrates both the strength of its team and the enduring demand for real-life experiences,” says Stephen Kerns, MD in the growth equity business within Goldman Sachs Asset Management.
“Fever’s success is underpinned by smart technology, amazing partnerships, and dedicated creators –three factors which we believe will ensure its continued growth and expansion in the future. We are thrilled to support Fever’s team in its mission of making culture and entertainment more accessible across the world.”
Upcoming Fever Orginals include its Candlelight Concert series in London, showcasing the music of Hans Zimmer (Central Hall, Westminster, Taylor Swift (Butchers Hall) and Coldplay (Southwark Cathedral).
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