You.i TV, an Ottawa-based startup that provides software tools for cross-platform app development, has announced the closing of $30 million CAD ($23 million USD) in growth capital led by Causeway Media Partners. Early backers included WarnerMedia, Kayne Anderson Capital Advisors, and Vistara Capital Partners also participated in the round.
Bob Higgins, partner at Causeway Media, will join the board at You.i TV.
“We’ve been on a mission since we started to help developers take control of the fragmented world we live in. Enabling them with the right tools lets them do what they do best – build experiences that matter to users”, said Jason Flick, the CEO and co-founder of You.i TV. “This is just the beginning of shaping the future of all forms of media experiences. We are excited to have Causeway join the team with their well rounded expertise in this space as we reach new markets and build out the community.”
You.i TV provides tools allowing development teams to unify their app strategy and build applications. The You.i Engine allows customers to build personalized experiences on all platforms – mobile devices, set-top boxes, game consoles, and streaming devices – from a single code base. Brands such as A+E Networks, AT&T, WarnerMedia, NBA, Warner Brothers, National Geographic, and Fox are spearheading direct-to-consumer and OTT strategies using You.i Engine-powered TV applications.
“We’ve been courtside watching media companies endeavor to get the user experience right, knowing that the consumer is the ultimate arbiter of what can make or break a business these days,” says Bob Higgins, Partner Causeway Media Partners. “Today, content owners trade-off between engagement and monetization and we think You.i TV’s product unlocks unlimited potential for changing that equation. We’re excited to partner with the team to amplify their already impressive reach in the sports and media ecosystem.”
The newly-raised funds will fuel expansion of You.i TV’s global footprint, developer community, and reimagining the ad experience. In 2016, they raised a $12 million Series B round of funding.