Goldman Sachs Asset Management leads $227m investment in live-entertainment tech startup Fever
Goldman Sachs Asset Management has led a $227 million investment in Fever, a live-entertainment discovery platform, marking the largest funding round for a live-entertainment tech startup. This capital injection values Fever at over $1 billion and reflects a growing demand for in-person experiences. Fever's revenue has soared 10x since its last funding round in 2019, expanding its presence from three to over sixty cities globally, primarily in the U.S. The investment involves notable partners, including Alignment Growth and Goodwater Capital, emphasizing a strong future outlook for in-person events.
- Raised $227 million in funding, the largest for a live-entertainment startup.
- Valuation exceeds $1 billion, indicating strong market confidence.
- Revenue increased tenfold since 2019, demonstrating rapid growth.
- Expanded from three cities to over sixty globally, enhancing market reach.
- None.
NEW YORK, Jan. 26, 2022 /PRNewswire/ -- Fever, the leading live-entertainment discovery platform, has raised
To reinforce the positive outlook and future of in-person and 'IRL' experiences Goldman Sachs is joined by Alignment Growth, growth equity investor in global entertainment and consumer tech, led by former Warner Bros, Time Warner, and investment banking executives. Other co-investors participating in this round are Goodwater Capital (the largest dedicated consumer technology platform globally), and Smash Capital (a late-stage venture capital firm led by former Disney and growth equity investors, backer of Epic Games). In addition to the announced primary financing of
Fever –whose mission is to democratize access to culture and entertainment– has developed a proprietary technology to inspire its global community through personalized and curated experiences in their local city, and empowers entertainment and event creators to reach new audiences and enhance their experiences.
As the pandemic took hold, thousands of traditional producers and creators like museums or classical music organizers were struggling to adapt their formats and engage their audiences. Fever has helped these organizers to create and adapt to a new reality during and post-COVID, by making their experiences more accessible to a full new range of customers across the world.
Fever, co-led by three Spaniards, Ignacio Bachiller Ströhlein, Alexandre Perez Casares, and Francisco Hein, has experienced significant growth since its last financing round in 2019. The company has grown its revenues 10x and has gone from being present in only three cities five years ago to becoming a global category leader in over 60 cities across Europe, America, Asia, and Oceania today. The US is currently Fever's largest market.
Ignacio Bachiller Ströhlein, Fever's CEO 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-placed to meet the zeitgeist."
Stephen Kerns, managing director in the Growth Equity business within Goldman Sachs Asset Management, said: "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."
About Fever:
Fever is the leading global live-entertainment discovery platform, helping millions of people every month to discover the best experiences in their cities, with a mission to democratize access to culture and entertainment in real life. Through its platform, Fever inspires its community to enjoy unique local experiences and events, from immersive art exhibitions, interactive theatrical experiences, festivals, classical music concerts to molecular cocktail pop-ups while empowering creators with data and technology to create and expand experiences across the world.
About Goldman Sachs Asset Management Growth Equity
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world's leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than
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SOURCE Fever
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