Atmosphere valuation climbs to $1 bln after doubling streaming TV customer count
Rarified Atmosphere Inc., which does business under the name Atmosphere, on Tuesday said its private market valuation rose to $1 billion in a Series D financing round of $65 million led by Sageview Capital, Valor Equity Partners and S3 Ventures. The company said it doubled its ad-supported streaming television platform to nearly 50,000 restaurants, bars, gyms, doctor offices, and other businesses including Burger King, Texas Roadhouse, Meineke and Snap Fitness. Atmosphere co-founders John Resig and Leo Resig named COO Blake Sabatinelli as CEO, effective immediately. Sabatinelli formerly worked as CEO of Newsy, which is currently known as Scripps News, from 2018 through 2021, when he joined Atmosphere. The Austin, Texas company's Series D round comes after it raised $80 million in Series C financing in December 2021.
-Steve Gelsi
(END) Dow Jones Newswires
February 07, 2023 08:24 ET (13:24 GMT)
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