The round was led by Sageview Capital with participation from existing investors, Valor Equity Partners and S3 Ventures, as well as a $20 million debt facility provided by Bridge Bank. In total, the company has now raised over $140 million. As part of this latest round, Dean Nelson, Senior Partner at Sageview, will join the company's board of directors and Roberto Avila, Principal at Sageview, will join as a board observer.

Atmosphere is a free streaming multi-channel platform for businesses offering 64 original and partner TV channels licensed for commercial venue usage. Atmosphere also provides value-added features for venue operators including a digital signage feature for businesses to run their house promotions within the content. The platform was developed using proprietary content, technology and data to deliver unparalleled experiences for businesses, consumers and advertisers. The business was incubated within Chive Media Group and spun out in 2019.