Tech firm FEVO closes on $36.5M funding round

Social commerce tech company FEVO has closed a Series C funding round of $36.5M, led and backed by Eldridge. Sapphire Ventures, HBSE Ventures, Contour Ventures were involved, as were new investors Davis Capital Partners, ID Funds, and Drive by DraftKings. FEVO CEO Ari Daie indicated the funding will be used to spur growth, allowing the company to expand into international markets and steer more resources into the retail and travel sectors. FEVO has 600-plus partners in the sports, live events, travel, retail and hospitality industries, with sports clients including Ticketmaster, Paciolan, MLB, Bucks, Yankees, Dolphins, Univ. of South Carolina and NASCAR.