Today the free streaming service Atmosphere announced a $65+ million in new funding. Atmosphere offers award-winning content spanning 60+ channels for all audiences, including viral videos with Chive TV and a suite of news channels including News, Sports, and Entertainment.
You may not have the Atmosphere channel on your TV but you have likely seen it on TVs at a wide range of business.
Currently, Atmosphere’s free ad-supported streaming TV platform provides short-form, audio-optional programming to over 60 million viewers per month across nearly 50,000 restaurants, bars, gyms, doctor offices, and other business establishments worldwide, including Burger King, Texas Roadhouse, Meineke and Snap Fitness.
The service also comes with added value tools that enable businesses to communicate with their customers to upsell and cross-sell.
This new funding brings in investors Sageview Capital, Valor Equity Partners and S3 Ventures. This newest round of funding follows an $80 million Series C financing led by Sageview Capital completed in December 2021.
Atmsphere is now valued at over $1 billion after this later evaluation.
“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,” said John Resig, Co-Founder and President of Atmosphere. “Atmosphere is the perfect solution for advertisers who are looking to get in front of an increasingly unreachable TV audience.”
Atmosphere also announced a new CEO Resig also announced that he will be taking on a new role as Chief Innovation Officer and Co-Executive Chairman alongside his brother and fellow Co-Founder, John Resig. The Resigs promoted Blake Sabatinelli as Chief Executive Officer, effective immediately. Sabatinelli joined Atmosphere as Chief Operating Officer in February of 2021 and previously served as CEO of Newsy (currently known as Scripps News) from 2018 through 2021.
“After a year where we doubled our customer count, continued to expand internationally, and realized a $1B valuation, I am looking forward to concentrating full time on the product and platform innovations that will continue to keep Atmosphere on this incredible trajectory,” said Resig. “Blake’s operational expertise and proven leadership capabilities will continue to keep us on course and poised for our next phase of growth.”