Fever, a startup in the live entertainment industry, has raised $227 million in funding.
- ByStartupStory | January 28, 2022
Fever, a live-entertainment platform, has raised $227 million in what it claims is the largest funding round ever for a company of its kind.
The round, led by Goldman Sachs, valued Fever at more than $1 billion and was announced on Wednesday (Jan. 26).
In a world where most of the conversation is about digital entertainment or the Metaverse, the funding “builds on the increasing demand for real-life experiences,” the company said in a news release.
Fever, which has offices in Madrid and New York City, allows users to search for live events and receive personalized recommendations based on their preferences for things like plays, concerts, festivals, nightclubs, restaurants, and games. In addition, the company works with entertainment and event producers to help them reach a larger audience.
“Thousands of traditional producers and creators, such as museums and classical music organisers, were struggling to adapt their formats and engage their audiences as the pandemic spread,” the company said. “By making their experiences more accessible to a wide range of customers around the world, Fever has helped these organisers create and adapt to a new reality during and after COVID.”
Fever claims it has grown significantly since its last funding round in 2019, when it raised $35 million. Since then, revenues have increased tenfold, and the company has expanded from three to more than 60 locations across the United States, Europe, Asia, and Oceania.
“Despite the pandemic’s challenges and the metaverse’s novelty, there has never been a better time for thrilling and well-curated IRL events,” said Fever’s CEO, Ignacio Bachiller Ströhlein. “Fever and the incredible event creators who use our platform are perfectly positioned to tap into the current zeitgeist.”
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