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Events app Fever books $35m in funding round led by Rakuten

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LONDON, ENGLAND - JULY 29: A DJ plays on stage at the Nest nightclub in Dalston, the weekend before new licensing rules come in to effect across Hackney on July 29, 2018 in London, England. Hackney Council has voted to introduce strict new licensing rules which will see "core" curfews in place for new venues as well as extending the "Special Policy Area", within which licenses are granted only in exceptional circumstances. Local businesses fear that the new policy, aimed to curb anti-social behaviour and noise, will kill nightlife in East London. (Photo by Jack Taylor/Getty Images)

Events platform Fever has secured $35m (£28.8m) in fresh investment following a funding round led by Japanese internet giant Rakuten.

Fever, which lists entertainment events in more than a dozen cities worldwide, said the cash injection will fund investment in technology and expansion in new markets.

Read more: Onecom bags £100m in funding as it eyes up future acquisitions

Existing investors Altresmedia and Accel also participated in the funding round, as well as former Alibaba Investment chair Michael Zeisser, who will join Fever as a non-executive board member.

“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.” 

The London and Madrid-headquartered company also owns viral social media channel Secret Media Network, which reaches half the population of London each week through its Secret London site. Fever last year expanded to Manchester, Paris, Los Angeles and Lisbon.

The latest funding round, which Fever said is the largest to date for an entertainment discovery platform, will take the firm’s total backing to more than $70m.

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“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.”

Main image credit: Getty