Atmosphere, a Texas-based startup streaming a TV platform for enterprises, providing 64 partner and authentic TV channels, has raised US$ 80 million in a Series C funding round led by Sageview Capital and US$ 20 million in debt financing from Bridge Bank on 4 January 2022.
Investors: The Series C investment round featured Sageview Capital as the lead investor with participation from Valor Equity Partners and S3 Ventures. On the other hand, debt financing involved Bridge Bank as the lead investor. The startup has managed to raise, in total, over US$ 140 million to date.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round to earn additional dispensation scale while persistently optimising and developing the firm’s operations in ad sales, content and marketing.
About Atmosphere
Brought to existence in 2019 by Leo Resig and John Resig, Atmosphere runs as a free streaming multi-channel platform for enterprises offering numerous features for venue operators such as digital signage for firms to execute their house promos inside the content. The platform has been built through proprietary data, content and technology to offer unequalled services to advertisers, enterprises and consumers. The firm’s customer base has risen two times in the last year, streaming over 250,000 hours daily in total and covering nearly 20 million distinct viewers monthly. Its customers include Texas Roadhouse, Meineke Car Care, Burger King, other bars, doctor’s offices, gyms, and restaurants.
What the Founder has to say: “Since TV’s invention, no person took the initiative of making content categorically to provide an audio-less experience to enterprises. Our investors at S3, Sageview and Valor comprehend our vision and drive to establish Atmosphere’s success. Atmosphere acts as an appropriate solution for enterprises which intend to boost their platform and advertisers who are attempting to become the front face of a growing uncovered TV audience.”- Leo Resig, Co-Founder and CEO of Atmosphere.
What the Investor has to say: “We have been dazzled with Atmosphere’s distinctive tactic of linking advertisers with highly-focused markets. We feel that their services would be properly delivered to businesses and advertisers adopting their service. Taking into account the firm’s robust growth and successful business model, we are delighted to join hands with Atmosphere at a phase where expanding their operations is vital for growth.”- Dean Nelson, Senior Partner at Sageview Capital.
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