Ottawa-based You.i TV, a multi-screen video app platform, has raised a $12 million Series B led by Time Warner Investments.
Scott Levine, managing director of Time Warner Investments, will join You.i TV’s board of directors. The company plans to use the funding to enhance its app designer workflow IP and to continue to grow its partner channels. New backer Vistara Capital Partners and existing backers Kayne Anderson Capital Advisors, L.P. also participated in the round.
“The industry is in a race to ‘own the glass’ on devices big and small – from the 10 feet to the fully mobile experience – and You.i TV has unlocked the art of gaining and retaining user attention,” says Jason Flick, CEO and Co-Founder of You.i TV. “When it comes to being ahead of the trend, Time Warner Investments is the best in the industry and choosing You.i TV is a ringing endorsement for the impact our products are having in market.”
The company’s You.i Engine, which allows brand owners to build a customized platform across mobile devices, set-top boxes, consoles, and streaming devices from a single code base, is behind some popular video applications like Sony Crackle, the Rogers Communications shomi SVOD service, Corus Entertainment and Time Warner-owned Turner brands including TNT, and TBS.
Turner is currently standardizing their application development on the You.i Engine platform.
“Delivering video directly to consumers is becoming vital to the media industry, and offering a compelling user interface and app experience is an important piece of this value chain,” said Scott Levine. “We were immediately impressed with the You.i TV products, seeing how they create high-quality, unique branded experiences across multiple device platforms, while powering higher engagement rates with users.”