fever, the leading technology platform for entertainment discovery and live entertainment, has raised $227 million in a round led by Goldman Sachs Asset Management’s growth equity investment fund. This would be the company’s highest round and has allowed thethe company to raise its valuation of the company beyond $1 billion.
European funds such as Eurazeo and Vitruvian Partners have also participated in this round of financing through a secondary market operation. These new funds join previous investors such as Atresmedia, Accel or Philyra. The Leading American investors are Convivialité Ventures (investment fund focused on the intersection between technology and entertainment), Goodwater Capital (one of the largest “consumer tech” funds in Silicon Valley, investors in Monzo, Spotify and Tiktok), Alignment Growth (led by ex-Warner Bros. and Time Warner executives), Vitruvian Partners, and Smash Capital (a venture capital fund run by former Disney executives and investors in companies like Epic Games, creators of Fortnite).
Increased demand for culture and entertainment
Fever, whose mission is to democratize access to culture and entertainment, has developed its own technology from Spain with which it inspires its global community through recommendations to discover the best of their city, while helping organizers reach new audiences and enrich their experiences.
With the arrival of the pandemic, thousands of organizers such as museums, theaters or classical music producers, They made an effort to adapt their formats and attract the public again. Fever made it easier for these organizers to adjust to a new post-COVID reality, making their experiences more accessible to a whole new audience, not just in their home markets, but around the world.
Fever, co-led by the Spanish Ignacio Bachiller Ströhlein, Alexandre Pérez Casares and Francisco Heinhas gone from being present in only three cities in just 5 years to becoming a world leader in its category in more than 60 cities in Europe, America, Asia and Oceania. To this day, the United States is the largest market for Fever.
Ignacio Bachiller Ströhlein, CEO of Feverit states: “We are proud that a technology originated and developed in Spain is helping thousands of creators of leisure and culture around the world to offer memorable and quality experiences to millions of people. Fever is, to this day, the reference platform in the main cities of the world – from Los Angeles, to Paris, Singapore, or Sydney. We are demonstrating that it is possible to contribute to creating a leading global product from the Madrid neighborhood of Las Cortes” .
For his part, Stephen Kerns, Managing Director of the Goldman Sachs Capital Growth Fund, has stated: “Fever’s ability to increase their revenue tenfold since before the pandemic demonstrates both the strength of their team and the growing demand for live experiences. Fever’s success is based on cutting-edge technology in its sector, and its collaborations with the largest entertainment institutions in the world, two factors that they believe will ensure its continued expansion in the future. We are excited to help Fever in its mission to democratize culture and entertainment through technology.”