Live Entertainment Tech Platform Fever Announces $250M Raise

New York-headquartered live entertainment technology platform Fever, which also owns UK-headquartered ticketing company DICE, has raised $250 million in a primary equity financing round.

Why it matters:

• Fever, which was co-founded by Spaniards Ignacio Bachiller, Francisco Hein and Alexandre Pérez, says the raise is the “largest ever for a live-entertainment tech company.”

Lead investors:

• The round was led by European private markets investor EQT, with “significant participation” from Point72 Private Investments, Baillie Gifford, and other existing investors.

Sustained growth:

• The investment follows “three years of sustained growth,” during which Fever says it more than tripled its revenue, remained EBITDA-positive, and strengthened its position across North America and Asia.

• Its partnerships include Formula 1, SailGP, X Games, Netflix, FC Barcelona, Primavera Sound, among others.

Capital plans:

• Fever says demand for in-person experiences is accelerating as AI reshapes how people engage with entertainment, and the injection of capital will hasten its mission to “democratize access to culture and live entertainment.”

• It will use the funding to expand beyond the 55 countries where it currently operates, and deepen its presence across major entertainment categories.

• It will also increase investment in technology and tools for partners to help them understand demand and optimize ticketing.

Formula 1 deal:

• Under a new global agreement, Fever will serve as an Official Supplier to Formula 1 through 2031, providing ticketing technology and supporting fan-experience optimization.