- Fever has grown 10-fold in revenue since 2019 – despite the pandemic – allowing creators to scale globally and deliver high-quality experiences.
- The startup, present in Portugal since 2018, provides data-driven curation and the development of new experiences in partnership with entertainment creators to bring the world together in real life.
- New co-investors Alignment Growth, Goodwater Capital and Smash Capital also join, bringing with them decades of experience in media, entertainment and consumer technology.
Fever, the leading live entertainment discovery platform, announces a $227 million funding round led by Growth Equity from Goldman Sachs Asset Management (“Goldman Sachs”).
The round, the largest ever for a live entertainment tech startup, values the company at more than $1 billion and is based on the growing demand for real-life experiences – in a world where the most conversation takes place. around digital entertainment or the Metaverse.
To reinforce the positive outlook and future of personal and real-life experiences, Goldman Sachs Growth is joined by Alignment Growth, a growth equity investor in global entertainment and consumer technology, led by former executives at Warner Bros., Time Warner and investment banks. The remaining co-investors participating in this round are Goodwater Capital (the largest globally dedicated consumer technology platform) and Hollywood and Brooklyn-based Smash Capital (an advanced-stage venture capital firm led by former investors). Disney and growth equity, sponsor of Epic Games). In addition to the announced principal financing of USD 227 million, Eurazeo and Vitruvian Partners also participated in a secondary investment of an undisclosed amount.
Fever, present in Portugal since 2018, and whose mission is to democratize access to culture and entertainment – has developed proprietary technology that inspires its global community through personalized and curated experiences in its local city, empowering entertainment and event creators to reach new audiences and improve their experiences.
Over the past two years, as the pandemic has set in, thousands of traditional producers and creators, such as museums or classical music organizers, have struggled to adapt their formats and engage their audiences. Fever has helped these organizers create and adapt to a new reality during and after COVID, making their experiences more accessible to more people around the world.
Fever, co-led by three Spaniards, Ignacio Bachiller Ströhlein, Alexandre Perez Casares and Francisco Hein, has seen significant growth since its last funding round in 2019. The company increased its revenues by 10x and stopped being present in just three cities five years ago to now become a global category leader in more than 60 cities in Europe, America, Asia and Oceania. The United States of America is currently Fever’s biggest market.
Ignacio Bachiller Ströhlein, CEO of Fever, explains: “We are proud of our role in empowering creators to deliver memorable real-life experiences to millions of people around the world who are looking to share unique moments. Despite the challenges of the pandemic and the novelty of the metaverse, there has never been a better time for exciting and well-organized real-life events. Fever and the amazing event creators using our platform are well positioned to get to know the zeitgeist.”
Stephen Kerns, Managing Director of the Growth Equity business at Goldman Sachs Asset Management, says: “Fever’s ability to increase revenues tenfold over the past two years demonstrates the strength of its team and its enduring search for real-life experiences. Fever’s success is underpinned by smart technology, incredible partnerships and dedicated creators – three factors that we believe will ensure its continued growth and expansion in the future. We are excited to support the Fever team in their mission to make culture and entertainment more accessible around the world.”