Palm Tree Crew Secures Series B Funding to Boost Global Expansion and Valuation

Palm Tree Crew Expands with New Funding

On September 9, 2025, Palm Tree Crew, the innovative global holding company in entertainment, hospitality, and investment, announced significant developments that will propel its growth in various sectors. Founded by the renowned DJ Kygo (Kyrre Gørvell-Dahll) and manager Myles Shear, this company has taken a bold step by partnering with the WME Group, a leader in the sports and entertainment industry, to facilitate a $20 million Series B funding round. This funding has valued Palm Tree Crew at an impressive $215 million and sets the stage for an exciting future in global entertainment and lifestyle.

Mark Shapiro, President and Chief Operating Officer of WME Group, expressed confidence in Palm Tree Crew's trajectory, describing it as a cultural force capable of merging music, hospitality, and lifestyle into world-class experiences that engage audiences worldwide. This partnership is anticipated to enhance the company’s reach and accelerate its growth in the convergent worlds of music and culture.

Since January 2024, Palm Tree Crew has significantly expanded its global footprint, rapidly establishing its position as a formidable player in the cultural landscape. Over the past year, the company has opened four new properties, including the Palm Tree Beach Club in Las Vegas and multiple Palm Tree Club hotels in Miami, Kansas City, and Orlando. This hospitality expansion is complemented by the strategic growth of their festival brand, successfully launching immersive experiences in popular U.S. locations like Montecito and Napa, along with their first European festivals in Saint-Tropez and Sardinia.

CEO Michael Diaz remarked on the company's dual focus on direct expansion and building partnerships within the cultural sphere. The recent funding will allow Palm Tree Crew to not only grow within the hospitality sector but also to dive deeper into synergistic verticals such as festivals, concerts, and lifestyle activations. This strategic approach has positioned the company not just as a music organization, but as a well-rounded lifestyle brand promoting connection, culture, and the essence of the tropical experience.

With a sold-out European debut featuring significant artists such as A$AP Rocky and Swedish House Mafia, Palm Tree Crew is redefining what it means to be part of a global festival circuit. High-profile partnerships with brands like Amazon and DraftKings have further solidified its impact, alongside a unique merchandise line that catches the eye of celebrities, currently garnering attention from the likes of Travis Kelce and Morgan Wallen.

The economic impact of Palm Tree Crew's events has left a remarkable imprint. In Aspen, the company’s festival caused local hotel prices to spike by 37% and created record revenue for restaurants, ultimately boosting the economy by $88.3 million, highlighting the value that such events bring to local communities. As they host nearly ten flagship festivals annually, introducing names like Calvin Harris and John Mayer, Palm Tree Crew is proving its sustainability and popularity in the entertainment sector.

Beyond festival management, Palm Tree Crew is actively investing in early-stage companies within consumer products and technology. Their portfolio has been diversified with investments in brands such as Ryl Tea, Cove Sodas, and SipMARGS, fostering emerging talents while promoting its own marketing platform and business development resources.

In summary, Palm Tree Crew is not just a burgeoning brand; it embodies an integrated lifestyle and community that embraces creativity and cultural exchange. This new funding round, led by WME Group, represents a significant milestone, allowing them to further push the boundaries and expand their influence across the globe, delivering unforgettable experiences that captivate and connect audiences across multiple platforms.

For more information, visit Palm Tree Crew's website.