Atmosphere Raises Series D Round at a $1 Billion Valuation
Summary
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 companys 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. 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. He saw the opportunity to create TV content and advertising specifically for businesses in the midst of changes in the television industry.