Out-of-home streaming service Atmosphere announced its new Series D funding round worth $65 million led by Sageview Capital, Valor Equity Partners and S3 Ventures. The latest round comes after the company finished its $80 million Series C financing round led by Sageview Capital last December 2021.
In 2022, the leading streaming platform doubled its customers with over 60 million viewers per month across 50,000 restaurants, bars, gyms, doctor offices, and many more business establishments worldwide.
According to Atmosphere CEO Leo Resig, the company will continue accelerating its growth and positioning itself as the “leading television provider for businesses and venue operators” this year.
“We are confident we have built an advertising platform that will reach audiences more effectively than both linear television and AVOD platforms, and are hugely encouraged that our investors are similarly bullish on our future growth,” he explained.
Atmosphere offers short-form audio-optional TV channels with categories in News, Sports and Entertainment. Its content spans over 60 channels, programmed especially for out-of-home viewing, to be viewed as is or with a playlist of varied content.
The television service provider also comes with tools that help businesses upsell and cross-sell with their customers and is delivered entirely free to the airing venue.
For Resig, the way customers consume TV in businesses “has always been broken.”
“The paradigms of television have been in flux for years and we saw the opportunity to create TV content and advertising specifically for businesses... Atmosphere is the perfect solution for advertisers who are looking to get in front of an increasingly unreachable TV audience,” he explained.
After a year of doubling customers, expanding internationally and reaching a $1 billion valuation, the CEO hopes to be more hands on by taking the role of Chief Innovation Officer and Co-Executive Chairman along with his Co-Founder and brother, John Resig.
“I am looking forward to concentrating full time on the product and platform innovations that will continue to keep Atmosphere on this incredible trajectory,” he added.
