Fever raises $227m in Goldman Sachs-led funding round

Live entertainment discovery platform Fever has raised $227m (£169m/€203m) in a funding round led by the Growth Equity business within Goldman Sachs Asset Management.

The round has valued Fever at over $1bn and the company has claimed it was the largest ever funding round for a live entertainment tech start-up.

While Goldman Sachs Growth led the round, further investment came from growth equity investor Alignment Growth,  consumer technology platform Goodwater Capital, and late-stage venture capital firm Smash Capital. Investment company Eurazeo and private equity company Vitruvian Partners also participated in Fever’s funding through a secondary investment.

Fever is headed up by three Spaniards, Ignacio Bachiller Ströhlein, Alexandre Perez Casares and Francisco Hein. Over the last five years, the company has grown from only being present in three cities, to now being used in over 60 cities across Europe, the US, Asia and Oceania.

Ströhlein, chief executive of Fever, said: “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.

“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. Fever and the amazing event creators who use our platform are well-paced to meet the zeitgeist.”

Stephen Kerns, managing director in the Growth Equity business within Goldman Sachs, added: “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.

“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.”

Image: Dan Gold on Unsplash