Photo Credit: Fever
Fever secures over $100 million in funding to expand its position in live experiences, namely music and sports.
Fever has now secured over $100 million in funding from L Catterton and Point72 Private Investors through the completion of an equity funding process, including existing investors, according to details shared this morning with Digital Music News.
The technology platform—now operating in over 40 countries—has structured partnerships with a number of institutions across all live entertainment verticals, specifically within sports and live music. Fever now reaches hundreds of millions of people through its discovery platform and media, according to the company.
Fever says it has built a multi-category, data-driven ecosystem that connects millions of fans worldwide with venues, festivals, and independent promoters.
Some recent marquee partnerships include independent promoters like TCE Presents, Cercle Music, and Last Tour; iconic venues like the Clapham Grand and Brooklyn Storehouse; and festivals like Rock in Rio Lisboa, Primavera Sound, and Pitchfork Music Festival.
The platform also provides ticketing and demand generation for sports organizations and events including Real Madrid and FC Barcelona, LIV Golf, and the X Games.
On the revenue side, Fever says it has achieved over 20x revenue growth from pre-pandemic levels, while maintaining full-year EBITDA profitability.
Fever says it is now exploring opportunities to work with the New York Mets, owned by Point72 Chairman and CEO Steve Cohen, to further enhance fan engagement through experiences.
Fever will also leverage L Catterton’s consumer insights and look to unlock new opportunities to engage audiences through experiential marketing and branded events, in line with the growing trend of brands leveraging live experiences to strengthen customer connections.
Content shared from www.digitalmusicnews.com.