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When Chive Media Group spun out its out-of-home TV business last year, co-founder and CEO Leo Resig said the structure should help the new company, called Atmosphere, raise venture capital.
Looks like those fundraising efforts were successful, with Atmosphere announcing that it has raised $10 million in Series A funding led by S3 Ventures, with participation from Capstar Capital.
Someone - Closed-captioning - Heads - Establishments - Ventures
“I have yet to meet someone who enjoys watching closed-captioning or talking heads at their favorite establishments,” said S3 Ventures Partner Charlie Plauche in a statement. (Plauche is joining Atmosphere’s board of directors.) “Yet, that is the best option most businesses have to entertain patrons. That all changes with Atmosphere, who offers engaging content to viewers of all ages with no audio needed.”
Chive Media Group is known for its namesake website, theChive, which focuses on funny and viral content. Chive co-founders (and brothers) Leo and John Resig told me that when the company decided to move into video, it didn’t have the money to create a big production arm.
Roots - Seek - Curate - Package - Content
“We stuck to our roots of what we do best: Seek out and curate and package existing content,” John said. As a result, the company was able to license “a pretty large IP library of short form, mostly amateur viral videos,” which it then offered to bars and other out-of-home locations as Chive TV.
Chive TV still exists, but it’s now just one of the channels that Atmosphere offers, with Leo noting that Atmosphere now includes more polished videos from partners like Red Bull and GoPro.
Everyone - Content
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