Cosm, purveyor of immersive technology, media and entertainment experiences it has dubbed “shared reality,” has raised more than $250 million in new funding.
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The new capital will fuel an ongoing expansion of the company’s portfolio of venues in LA, Dallas and other cities to come as well as fortifying the firm’s technology and media business divisions.
Participants in the new round include existing investor Steve Winn via his Mirasol Capital and a roster of new investors, most known for their stints as professional sports team owners. Among the new guard are Avenue Sports Fund, led by former Milwaukee Bucks co-owner Marc Lasry; Rock, founded by Cleveland Cavaliers owner Dan Gilbert; Bolt Ventures, co-run by Blackstone partner and sports team investor David Blitzer; and investment firm Baillie Gifford.
Cosm opened its first venue in LA at Hollywood Park last April. The space combines permanent theater-style seating and wall-sized screens for communal viewing of a range of sports, live events and other programming, along with a more flexibly laid out event space. Technology is integrated throughout the venue to offer attendees an immersive and compelling experience.
The company’s second venue is slated to open later this year in Dallas at Grandscape and a third is slated for Atlanta’s Centennial Yards.
“Cosm was created to redefine the way the world experiences content, and over the past few years we have been building the foundation of the business and growing the team necessary to achieve that vision,” Cosm CEO Jeb Terry said in the funding announcement. “As Cosm continues to push boundaries, we are bringing on new financial partners, all of whom carry the strategic weight to match their investing acumen, providing invaluable insights and growth capital that will help us achieve our biggest vision and aggressively scale the business.”
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Content partners thus far include the NBA, UFC, ESPN, NBC Sports, Turner Sports, Fox Sports and Cirque du Soleil, aliong with studios, artists and creators.
“We couldn’t be more pleased with the progress that Jeb and his team have made launching Cosm in Hollywood Park,” Winn said. “This is the culmination of five long years of research, development, and investment in a new form of experiential entertainment. Adding strategic and financial partners makes great sense to help fuel rapid expansion into other locations now that fans can experience the electrifying Cosm experience.”
Cosm was founded in 2020 with the acquisition of Evans & Sutherland, one of the most innovative technology companies in the history of modern computer graphics, along with its subsidiary Spitz, Inc., and the subsequent follow-on acquisitions of LiveLikeVR (now Cosm Immersive) and C360.
Allen & Co. is Cosm’s financial advisor.
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