The round, which valued Atmosphere at $275m, was led by Valor Equity Partners.
The company intends to use the funds to expand its business reach.
Led by Leo Resig, co-founder and CEO, Atmosphere is a free streaming multi-channel platform for businesses offering over 50 original and partner TV channels licensed for global, commercial venue usage. The company also provides value added features for venue operators including a digital signage feature for businesses to run their house promotions within the content and a paid ads-free version. The content includes both owned-and-operated channels such as Chive TV and Happy TV, as well as those created with partners including Red Bull, X Games and America’s Funniest Home Videos.
Austin s Atmosphere raises $25M, plans to hire hundreds in coming years
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Austin-based Atmosphere, a Chive Media spinoff, raises $25 million
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Atmosphere Closes $25 Million Series B Investment from Valor Equity Partners
Deal Values Next Gen TV Streaming Platform at $275 Million Following Year of Significant Growth
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AUSTIN, Texas, April 22, 2021 /PRNewswire/ Atmosphere (www.atmosphere.tv), the worldwide leader in streaming TV for businesses announced today a $25 million Series B investment from Valor Equity Partners. The deal, which comes less than a year after the company raised $14 million in its Series A round, values Atmosphere at $275 million. The funding round will enable the free, ad-supported streaming platform to extend its lead as a cable-killer in the global commercial TV market as businesses increasingly migrate to options that deliver better engagement, value and results. Chicago-based Valor is a leading growth-focused investment firm with past early-stage investments in companies including Tesla, SpaceX, BitGo, Dataminr and GoPuff. Valor previously i
03:01pm EDT|
Atmosphere TV Raises $25 Million To Stream Silent Ad-Supported Content In Bars And Dentist Offices Across America
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It’s been more than a year since many Americans have sat inside a bar or restaurant, casually watching a silent TV play in the background. But as the nation recovers from pandemic lockdowns, one startup is raising money to capture patrons’ attention upon their return.
Atmosphere TV a streaming platform that provides a range of audio-optional content supported by subscriptions and advertising has raised a $25 million Series B round from Valor Equity Partners at a new valuation of $275 million. The funding comes less than a year after a $14 million Series A round in April 2020, just weeks after state and local lockdowns went into effect.