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Live entertainment platform Fever raises $227m

Live entertainment discovery platform Fever has raised $227 million in a funding round that values the company at more than $1 billion (€900m).

Led by Goldman Sachs, the round is said to be the largest ever for a live entertainment tech startup and attracted investors including Alignment Growth, Goodwater Capital and Smash Capital. Eurazeo and Vitruvian Partners have also participated through a secondary investment of an undisclosed amount.

Based in Madrid, Spain and New York, US, Fever is led by Spaniards Ignacio Bachiller Ströhlein, Alexandre Perez Casares, and Francisco Hein. The platform makes personalised recommendations for users to enjoy unique, in-person local experiences such as immersive exhibitions, interactive theatrical experiences and festivals. It also collaborates with event organisers to create new attractions through its Fever Originals series.

“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”

“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,” says Fever CEO Bachiller Ströhlein. “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 [in real life] events. Fever and the amazing event creators who use our platform are well-placed to meet the zeitgeist.”

Fever, whose largest market is the US, has grown its revenues 10x since its last financing round in 2019 and has expanded its international presence from three cities five years ago, to over 60 cities across Europe, America, Asia, and Oceania.

“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,” says Stephen Kerns, MD in the growth equity business within Goldman Sachs Asset Management.

“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.”

Upcoming Fever Orginals include its Candlelight Concert series in London, showcasing the music of Hans Zimmer (Central Hall, Westminster, Taylor Swift (Butchers Hall) and Coldplay (Southwark Cathedral).

 


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Goldsmith launches Nvisible: “an agency for agencies”

Veteran concert promoter Harvey Goldsmith has announced the launch of a new specialist events agency, Nvisible, in a bid to create an expert service to help agencies seeking live events success.

Goldsmith heads a team of specialists in his role as chairman at Nvisible, offering creative, design, production and project management services to agencies within the live events and experiential marketing industries.

Nvisible aims to be the “unseen partner” behind popular live experiences, lending an expert hand to event agencies in need of extra help. The agency specialises in live music, sport and entertainment events.

“I am confident Nvisible will be the unseen partner behind some of the most successful events in 2019 and beyond”

Mark Bustard helps lead the team as managing director, building on experience accrued as creative producer for U2. The team’s creative director is Grant Campbell, who has extensive experience in advertising and in the creation of live sport and entertainment experiences. Production director Jim Baggott, project director Luke Carr and technical director Tim Spears complete the executive team.

“Collectively and individually, this team has worked on myriad world-class and iconic live experiences,” says Goldsmith. “I’ve brought them together to create a ‘best in class’ service for agencies wanting to achieve success through live events.”

Goldsmith launches Nvisible with over 50 years of industry experience under his belt: “It feels like the perfect time for Nvisible; I am confident we’ll be the unseen partner behind some of the most successful events in 2019 and beyond.”

 


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$5.5m investment in WME-IMG

Less than a month after securing a US$250 million investment from Japanese telecoms giant SoftBank, booking and sports agency WME-IMG has another new corporate backer in the form of wealth-management firm Fidelity Management and Research.

Fidelity, which primarily manages a large family of mutual funds, has invested $55m into the agency, which SoftBank valued at $5.5 billion.

WME-IMG says it will use both Fidelity and SoftBank’s investments “to advance [its] global growth strategy through new investments, acquisitions and joint ventures”. The latest of those is last week’s first foray into the fine art world with an investment in London art fair and publisher Frieze.

Music and media agency WME (William Morris Endeavor) and corporate parent Silver Lake Partners acquired sports agency IMG (International Management Group) at the tail end of 2013 for $2.3 billion.