Time Warner Investments has led a $12 million Series B funding round for multi-screen video app platform You.i TV.
The platform powers the design, development, and delivery of user interfaces for video applications across multiple devices. Scott Levine, managing director, Time Warner Investments, will join the You.i TV board.
This strategic investment is being used to further accelerate You.i TV’s response to demand for its products, to enhance its app designer workflow IP and to continue to grow its partner channels. Additional funding in the round has come from new investor Vistara Capital Partners and existing backers Kayne Anderson Capital Advisors, L.P.
The company’s You.i Engine is behind some of the most popular video applications in market today with Sony Crackle, the Rogers Communications shomi SVOD service, Corus Entertainment and leading Turner brands including TNT, TBS, and Turner Classic Movie (TCM)’s soon to be released direct-to-consumer app, FilmStruck.
In addition, Turner, a division of Time Warner, has begun to standardise their application development on the You.i Engine platform. The unparalleled user experience, the velocity of development and delivery, and the compelling total cost of ownership have spurred licensing deals for You.i TV products globally across many video sub-segments, including entertainment, kids, sports, and news.
“Delivering video directly to consumers is becoming vital to the media industry, and offering a compelling user interface & app experience is an important piece of this value chain,” says 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.”
You.i TV joins the Time Warner Investments portfolio that includes NextVR, Mashable, Krux, FanDuel, Discord and Bustle.
“The industry is in a race to ‘own the glass’ on devices big and small – from the 10ft 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.”