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Thursday, June 1, 2017
Everfest Raises $3.6 Million from Live Nation, ATX Seed Ventures
Everfest, a “festival experience” platform based in Austin, Texas, has closed a $3.6 million series A round co-led by Live Nation Entertainment and ATX Seed Ventures, bringing total investment in the company to more than $6 million. Other investors in the round include Red Frog Events (Firefly Music Festival), Chip Conley (Airbnb, Joie de Vivre Hotels, Burning Man) and Bob Kagle (Benchmark Capital). KATHY GRIFFIN : CNN fires Griffin!
The premise of the platform is to be a place where a fan can discover and receive recommendations for festivals that suit their tastes, factoring in location, musical genre, etc. Its Premium subscribers receive exclusive experiences and discounts at the company’s 100-plus partner festivals, although the platform also lists more than 15,000 festivals worldwide on its website. The company says the new capital will go toward hires across the organization to scale the Premium program. Coachella Festival Date
Live Nation is the world’s largest live-entertainment company; ATX is an early-stage venture capital firm specializing in Texas.
As part of the deal, C3 Presents (Lollapalooza, ACL) co-founder Charlie Walker will join Everfest’s board or directors, as will Chris Shonk of ATX.
“We’re thrilled to have Live Nation and ATX on board,” says Everfest co-founder and CEO Jay Manickam. “These are the perfect partners for our space, and we truly have an opportunity to leave a lasting mark on the global festival industry.” TIGER WOODS: Tiger Woods Arrest!
“We love what Everfest is doing to give festivals a true online home,” says Shonk. “We see enormous potential to build efficiencies in connecting the entire festival network, such that the whole industry is driven forward.” Cont'd