Posted on August 5, 2019 by staff

Events platform Fever secures Japanese led £29m investment


London and Madrid-headquartered digital events platform Fever has raised £28.8m in a new round of financing.

Led by Tokyo headquartered Rakuten’s investment arm Rakuten Capital, the round brings the platform’s total funding to over $70m.

Former Alibaba Investment chair Michael Zeisser, and existing investors Altresmedia and Accel also participated in round.

Zeisser will join the firm as a non-executive board member following the investment.

The platform uses a ‘smart recommendation algorithm’ to personalise listings of events for its users such as theatre shows, fashion events, immersive experiences, gigs and festivals.

The firm hopes this latest funding round will speed up its new market expansion, with revenue growth already exceeding 100 per cent annually.

The firm’s app and website, alongside its social media channel Secret Media Network, reach more than 25 million unique users per month across markets in key cities such as London, New York, Madrid and Paris.

It last year expanded into Manchester, Los Angeles and Lisbon.

“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 co-founder and chief executive Ignacio Bachiller.

“The round will cement Fever’s position as the go-to platform for consumers looking to discover new urban experiences.”

“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,” added Oskar Mielczarek de la Miel, managing partner at Rakuten Capital.

“Fever’s innovative solutions uniquely position the company to capitalize 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.”