Atmosphere Series D funding; new CEO
February 10, 2023
Atmosphere, a specialist in streaming TV entertainment for businesses, has announced a new $65 million (€60.7m) Series D funding round, led by 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.
Atmosphere’s announcement comes as the company says it has more than doubled its customers in 2022. Currently, the company’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.
“With this latest round of funding, Atmosphere will continue accelerating our growth and positioning ourselves as the leading television provider for businesses and venue operators in 2023,” said Leo Resig, co-founder and CEO of Atmosphere. “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.”
“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.”
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 realised a $1 billion 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.”