London and Madrid headquartered data-driven entertainment discovery company Fever has raised $35 million in a new round of financing.
The round was led by Rakuten Capital, the growth investment arm of Rakuten, a global leader in internet services headquartered in Tokyo.
Participation also comes from existing investors Atresmedia (one of the largest media groups in Europe and producer of the recent Netflix hit “Money Heist”) and Accel.
With this round, Fever will have raised over $70 million in total funding. This is the largest round recorded to date for an entertainment discovery platform and will continue to strengthen Fever’s position as a leader in the digitisation of the “Experience Economy.”
“The investment comes at an important time for Fever, as we expand our platform, enter new markets, and shape the experience landscape with our Fever Originals,” said Ignacio Bachiller, co-founder and CEO of Fever.
“The round will cement Fever’s position as the go-to platform for consumers looking to discover new urban experiences.”
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Fever inspires users to explore the best experiences in their cities while helping event organisers generate a very targeted demand. Fever’s mobile app and website, and its Secret Media Network, currently reach over 25 million unique users per month across its key markets (London, New York, Paris and Madrid).
By applying a smart recommendation algorithm, the app features personalised listings and transactional capabilities covering a vast variety of experiences, including music festivals, gigs, theatre, fashion, immersive experiences, and pop-ups.
“We have been impressed by Fever’s growth and success in reaching large digital audiences in major cities such as New York, Madrid and London – and most importantly the quality and leadership of their young team,” said Oskar Mielczarek de la Miel, Managing Partner at Rakuten Capital. “Fever’s innovative solutions uniquely position the company to capitalise on the fast-growing experience economy and have proven very valuable to digital marketers. We are excited to be part of Fever’s journey and look forward to exploring synergies with Rakuten’s global ecosystem.”
Fever’s new funding round will accelerate new market expansion, with an ambitious growth target. This expansion will follow last year’s successful launches in Paris, Los Angeles, Lisbon, and Manchester, and Fever will continue to expand its talent pool of engineering and its data science team to further consolidate its leadership as the leading technology platform in the experience economy.