Time Warner has led a $12 million Series B funding round for You.i TV, the company announced Tuesday.
The investment will be 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.
Scott Levine, managing director of Time Warner Investments, will join the You.i TV board.
“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,” Levine said. “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.”
The company’s You.i Engine is behind several major video applications in market today, including Sony’s Crackle, the Rogers Communications shomi SVOD service, Corus Entertainment, and 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 Inc., has begun to standardize their application development on the You.i Engine platform.
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,” said 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.”