Atmosphere Raises Series D Round at a $1 Billion Valuation

Atmosphere Funding

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Atmosphere, the global leader in business streaming TV entertainment, today announced a new $65 million Series D funding round led by Sageview Capital, Valor Equity Partners, and S3 Ventures. This latest round of funding comes on the heels of a $80 million Series C financing led by Sageview Capital that was completed in December 2021.

The announcement by Atmosphere comes as the company expects to more than double its customer base by 2022. Currently, the company’s free ad-supported streaming TV platform serves nearly 50,000 restaurants, bars, gyms, doctor offices, and other business establishments worldwide, including Burger King, Texas Roadhouse, Meineke, and Snap Fitness, to over 60 million viewers per month.

Atmosphere enables venue operators to elevate their space, run more efficiently, and increase their bottom line. The award-winning content is available on 60+ channels for all audiences, including viral videos on Chive TV and a suite of news channels including News, Sports, and Entertainment, all of which are programmed for out-of-home viewing and can be viewed on their own or as part of a playlist of varied content.

The service also includes value-added tools that allow businesses to communicate with their customers in order to upsell and cross-sell. It is completely free to the venue, allowing customers to improve their bottom line when compared to the more expensive and less versatile business packages offered by cable and satellite companies.

Atmosphere is the first company to provide connected television (CTV) at scale outside of the living room, broadening the universe of CTV for national and local advertisers and engineering reach comparable to, and in some cases exceeding, traditional broadcast television. The platform engages viewers in a one-of-a-kind content experience in a variety of contextual settings and geographical locations, all closer to the point of consumer purchase.

John Resig, Co-Founder and President of Atmosphere, believes that the way customers consume TV in businesses has always been flawed. He saw the opportunity to create TV content and advertising specifically for businesses in the midst of changes in the television industry. According to Resig, Atmosphere offers a solution for advertisers who are looking to reach an increasingly difficult-to-reach TV audience. He believes that Atmosphere is the perfect answer to this problem and provides a valuable opportunity for businesses to connect with their target audience through TV content and advertising.

Advertisers who take advantage of Atmosphere’s reach see positive results. In March 2022, a pet food subscription box brand experienced a 152% increase in brand opinion following exposure on Atmosphere, as well as an 83% increase in ad recall among category users who saw their ads on the platform. In April 2022, a restaurant brand looking to increase brand awareness and digital orders in emerging markets saw a 50% increase in brand awareness, with 67% of customers indicating that they would order directly from the restaurant’s website rather than a third-party app, a key component of the campaign.

Resig also announced that he will join his brother and fellow Co-Founder, John Resig, in a new role as Chief Innovation Officer and Co-Executive Chairman.

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