We are excited to announce that S3 Ventures and Brick and Mortar Ventures have co-led IFM Restoration’s $10M Series A financing. Single family rentals (SFRs) are one of the fastest growing institutional asset classes — having grown from virtual non-existence in 2010 to 200,000+ units and $36B today. With this rapid growth and new level of scale, several property maintenance workflow challenges have emerged. IFM’s technology platform and contractor network enable institutional owners and property managers with large SFR portfolios to efficiently maintain their homes — while providing a great tenant experience. IFM already works with the vast majority of the largest SFR portfolios across the country and is expanding rapidly by adding new geographic markets. We are thrilled to partner with IFM’s founders Dustin Marx and Danny Feldman, as they continue to build a market-leading and category-defining company.

Our portfolio company, Atmosphere, a free streaming TV platform for businesses, continues to grow rapidly, as commercial venues shift to over-the-top content.  We are excited to add Valor Equity Partners as part of a $14M Series A round – led by S3 Ventures and also including Capstar Capital, Brian Goldberg, Jag Bath, Joe Ross, and J.R. Kraft. Atmosphere’s ad-supported platform offers 21 audio-optional channels and is currently streaming on TVs in over 8,000 restaurants, bars, gyms and other venues – playing 130,000+ hours and reaching 500,000+ unique viewers on a daily basis. Led by Chive Media Group founders, Leo and John Resig, the Atmosphere network has grown 2.5x since the start of 2019 and saw record venue growth in Q1 of this year. Valor's investment will be out of its new Valor Siren Fund - which is anchored by Starbucks as its primary LP and targets early-stage food, food technology, and retail technology companies.