Atmosphere, an Austin, Texas-based ambient TV entertainment platform, closed a $10m Series A financing round.
The round was led by S3 Ventures with participation from Capstar Capital. In conjunction with the funding, S3 Ventures Partner Charlie Plauche will be joining the board as part of the financing.
The company intends to use the funding to ramp up B2B distribution, technology, data and monetization.
Led by Leo Resig, Co-founder and CEO, and John Resig, Co-founder and President, Atmosphere is an OTT streaming platform for businesses and consumers, offering original, owned and operated ambient TV channels. In addition to the content, the platform allows venues to run promotions on their TVs that drive customer engagement and behavior. The company’s flagship channel, CHIVE TV, is currently streaming in over 4,300 restaurants, bars, gyms and other venues.
The business, incubated under Chive Media Group and spun out in 2019, monetizes through SaaS fees and advertisements.