Goldman Sachs leads $227 million investment in live entertainment tech startup Fever
Live entertainment discovery platform The fever has risen $227 million in a cycle led by the Growth Equity activity within Goldman Sachs Asset Management.
The round, which claims to be “the largest ever for a live entertainment tech startup,” values the company at more than $1 billion.
Fever says its new investment “builds on the growing demand for real-life experiences — in a world where most conversations revolve around digital entertainment or the metaverse.”
Other investors joining Goldman Sachs include Alignment Growth, a global entertainment and consumer technology investment firm led by former Warner Bros, Time Warner and investment banking executives.
Meanwhile, the other co-investors participating in this round are Goodwater Capital and Smash Capital (a late-stage venture capital firm led by former Disney and growth capital investors, and backer of Epic). Games).
In addition to the announced primary financing of $227 millionEurazeo and Vitruvian Partners also participated via a secondary investment for an undisclosed amount.
Fever, co-directed by Ignacio Bachiller Ströhlein, Alexandre Perez Casaresand Francois Heinclaims to have developed proprietary technology for its event discovery platform.
The company says it has seen significant growth since its last funding round in 2019.
The company says it has increased its revenue 10x since then and further claims to have “gone from having a presence in just three cities five years ago to becoming a global category leader” in more than 60 cities across EuropeAmerica, Asiaand Oceania today.
Fever says the United States is currently its biggest market.
“Despite the challenges of the pandemic and the newness of the metaverse, there’s never been a better time for exciting, well-organized IRL events.”
Ignacio Bachiller Ströhlein, fever
Ignacio Bachiller Ströhlein, CEO of Fever, said, “We are proud of our role in empowering experience creators to deliver memorable real-life experiences to millions of people around the world who seek to share unique moments.
“Despite the challenges of the pandemic and the newness of the metaverse, there has never been a better time for exciting and well-organized IRL events.
“Fever and the incredible event creators who use our platform are well placed to meet the spirit of the times.”
“Fever’s ability to increase revenue tenfold over the past two years demonstrates both the strength of its team and the continued demand for real-world experiences.”
Stephen KernGoldman Sachs
Stephen KernManaging Director of Growth Equity at Goldman Sachs Asset Management, said: “Fever’s ability to grow revenue tenfold over the past two years demonstrates both the strength of its team and the continued demand for real experiences.
“Fever’s success is built on smart technology, incredible partnerships and dedicated creators – three factors that we believe will ensure its continued growth and expansion in the future.
“We are thrilled to support the Fever team in their mission to make culture and entertainment more accessible around the world.”The music industry around the world