Fever

Live Entertainment Tech · Ticketing · Consumer Marketplace

Funding

Fever raises record $250M led by EQT, implied $5.2B valuation

The valuation only became public because a longtime shareholder had to disclose its exit price to Spain's securities regulator.

• Fever raised $250 million in a primary equity round led by EQT, with participation from Point72 Private Investments, Baillie Gifford and existing backers, which it calls the largest-ever round for a live-entertainment tech company.
• Fever is a Spanish-founded platform for discovering and ticketing live culture and entertainment, operating in 55 countries and owning UK ticketing firm DICE.
• Fever did not disclose a valuation in its funding statement, but its implied worth surfaced when shareholder Atresmedia sold its roughly 5% stake to Vitruvian Partners for €227 million, pricing the company near €4.5 billion (about $5.2 billion).
• Fever's valuation has climbed sharply since it first crossed $1B on a €200M raise in 2022, reaching roughly €3 billion in a 2025 round before this latest jump.
• Fever plans to use the capital to expand beyond its current 55 countries and to build out ticketing, demand-forecasting and audience tools for partners like promoters, venues, sports teams and museums.
• The company says it has more than tripled revenue over the past three years while staying EBITDA-positive, a rare profitability profile for a growth-stage consumer platform.
• The raise reflects a broader investor bet that AI-driven digital saturation is pushing consumers toward paid, in-person experiences that can't be automated away.