Cosm Company Profile

Background

Company Overview

Cosm is an American sports and entertainment technology company specializing in immersive experiences through large-format, dome-shaped venues. These venues, known as "Shared Reality" spaces, utilize advanced LED technology to provide patrons with an immersive environment that bridges the virtual and physical worlds. Founded in 2020, Cosm has rapidly expanded its presence in the immersive entertainment industry.

Mission and Vision

Cosm's mission is to redefine how audiences experience live events by creating immersive environments that make viewers feel as if they are physically present at distant events. The company's vision is to become a global leader in immersive entertainment, offering unparalleled experiences that blend cutting-edge technology with high-quality content.

Primary Area of Focus

Cosm focuses on delivering immersive entertainment experiences through its proprietary "Shared Reality" venues. These venues are designed to host a variety of events, including live sports, concerts, and educational programs, all presented in a 360-degree, dome-shaped LED environment.

Industry Significance

In a rapidly evolving entertainment landscape, Cosm stands out by offering a unique blend of technology and content that appeals to a broad audience. Its innovative approach has garnered attention from major sports leagues, broadcasters, and entertainment companies, positioning Cosm as a significant player in the immersive entertainment sector.

Key Strategic Focus

Core Objectives

Expansion of Immersive Venues: Cosm aims to establish a network of immersive entertainment venues in major cities worldwide, providing audiences with accessible and high-quality immersive experiences.

Content Diversification: The company seeks to diversify its content offerings by partnering with various entertainment entities to present a wide range of events, from live sports to artistic performances.

Technological Innovation: Cosm is committed to advancing its proprietary technology to enhance the immersive experience, ensuring high-resolution visuals and seamless integration of content.

Specific Areas of Specialization

Immersive Entertainment Venues: Development and operation of large-format, dome-shaped venues equipped with advanced LED technology to deliver immersive experiences.

Content Production and Distribution: Creation and distribution of live immersive content, including sports events, concerts, and educational programs.

Technological Development: Advancement of proprietary technologies, such as the CX System and Digistar software, to support immersive content delivery.

Key Technologies Utilized

CX System: A comprehensive suite that includes LED dome displays, immersive software, and a curated ecosystem of STEAM content, designed for educational institutions.

Digistar Software: A planetarium software system developed by Cosm, offering advanced features for immersive content creation.

LED Dome Displays: High-resolution, large-format LED screens that form the core of Cosm's immersive venues.

Primary Markets or Conditions Targeted

Urban Entertainment Districts: Strategic placement of venues in high-traffic areas to attract a diverse audience seeking immersive experiences.

Sports and Entertainment Events: Partnerships with major sports leagues and entertainment companies to broadcast live events in an immersive format.

Educational Institutions: Providing immersive educational content through the CX System to enhance learning experiences.

Financials and Funding

Funding History

Since its inception, Cosm has secured significant funding to support its growth and expansion initiatives.

Total Funds Raised

As of July 2024, Cosm raised $250 million in a funding round that valued the company at over $1 billion.

Specifics of Recent Funding Rounds

July 2024 Funding Round: The $250 million Series B round included existing investor Steve Winn and Mirasol Capital, along with new investors such as Avenue Sports Fund led by Marc Lasry, Dan Gilbert’s ROCK, Baillie Gifford, and David Blitzer’s Bolt Ventures.

Notable Investors

Steve Winn: An existing investor and founder of Mirasol Capital, contributing to Cosm's growth and strategic direction.

Marc Lasry: Led Avenue Sports Fund, participating in the July 2024 funding round.

Dan Gilbert: Through ROCK, invested in Cosm's expansion efforts.

Baillie Gifford: A prominent investment firm contributing to the funding round.

David Blitzer: Through Bolt Ventures, invested in Cosm's growth initiatives.

Intended Utilization of Capital

The funds raised are intended to support the expansion of Cosm's immersive entertainment venues globally, enhance technological development, and diversify content offerings to attract a broader audience.

Pipeline Development

Key Pipeline Candidates

Cosm Atlanta: Scheduled to open in 2026 in Centennial Yards, adjacent to State Farm Arena and Mercedes-Benz Stadium.

Cosm Detroit: Expected to open in September 2026 near Campus Martius Park, as part of Downtown Detroit's revitalization.

Cosm Cleveland: Planned to open in 2027 in the Rock Block, adjacent to Rocket Arena.

Stages of Development

Cosm Atlanta and Cosm Detroit: Currently under construction, with expected openings in 2026.

Cosm Cleveland: In the planning phase, with an anticipated opening in 2027.

Target Conditions

These venues aim to provide immersive experiences for sports fans and entertainment seekers in major urban centers, enhancing the local entertainment landscape.

Relevant Timelines for Anticipated Milestones

2026: Opening of Cosm Atlanta and Cosm Detroit.

2027: Opening of Cosm Cleveland.

Technological Platform and Innovation

Proprietary Technologies

CX System: A comprehensive suite designed for educational institutions, including LED dome displays, immersive software, and a curated ecosystem of STEAM content.

Digistar Software: A planetarium software system developed by Cosm, offering advanced features for immersive content creation.

Significant Scientific Methods

Immersive Content Creation: Utilizing advanced 3D rendering engines and real-time processing to create high-resolution, immersive content for venues.

Integration with Unreal Engine: Enhancing content interactivity and realism through deep integration with Unreal Engine.

Leadership Team

Key Executive Profiles

Jeb Terry: President and Chief Executive Officer. Former NFL offensive lineman with experience in media and technology, including roles at Fox Sports Digital and Mirasol Capital.

Steve Winn: Executive Chairman and founder of Mirasol Capital, instrumental in Cosm's formation through strategic acquisitions.

Market and Competitor Profile

Market Insights and Dynamics

The immersive entertainment industry is experiencing rapid growth, with increasing consumer demand for innovative and engaging experiences. Cosm's unique "Shared Reality" venues position it favorably in this expanding market.

Competitor Analysis

MSG Sphere (Las Vegas): A large-scale immersive venue focusing on live music and events, representing a significant competitor in the immersive entertainment space.

Illuminarium (Atlanta & Las Vegas): Smaller immersive venues offering 360° projections and sensory effects, targeting a different segment of the market.

Strategic Collaborations and Partnerships

Cosm has established partnerships with major sports leagues and broadcasters, including the NBA, UFC, ESPN, NBC Sports, and TNT Sports, to present live events in immersive 8K+ resolution.

Operational Insights

Cosm's vertically integrated approach, controlling the entire technology stack from venue design to content production, provides a competitive advantage in delivering high-quality immersive experiences.

Strategic Opportunities and Future Directions

Cosm plans to expand its network of immersive venues globally, enhance technological capabilities, and diversify content offerings to attract a broader audience. The company's focus on innovation and strategic partnerships positions it well for future growth in the immersive entertainment industry.