Atmosphere, an Austin TX-based company providing a streaming TV entertainment platform for businesses, raised $100M in Series C funding.
The round was led by Sageview Capital with participation from existing investors, Valor Equity Partners and S3 Ventures, as well as a $20m debt facility provided by Bridge Bank. In total, the company has now raised over $140m. As part of this latest round, Dean Nelson, Senior Partner at Sageview, will join the company’s board of directors and Roberto Avila, Principal at Sageview, will join as a board observer.
The company intends to use the funds to accelerate growth, by increasing its distribution and to continue building its content, marketing, and ad sales teams.
Led by Leo Resig, CEO, Atmosphere is a free streaming multi-channel platform for businesses and also provides value-added features for venue operators including a digital signage feature for businesses to run their house promotions within the content. Optimized for viewing in public spaces, its content encompasses viral video compilations, extreme sports, lifestyle, art, ambient nature and entertainment. The content includes both owned-and-operated channels such as Chive TV, Happy TV, and Atmosphere News, as well as those created with partners including Red Bull, X Games, and America’s Funniest Videos.
Currently, the company’s free ad-supported streaming platform provides short-form, audio-optional programming across 64 channels to over 18,000 restaurants, bars, gyms, doctor offices and other venues worldwide, including Meineke Car Care, Burger King, and Texas Roadhouse.
The business was incubated within Chive Media Group and spun out in 2019.