Time Warner Investments Leads $12M Funding Round in You.i TV September 13, 2016
New financing to accelerate response to increasing global demand for its multi-screen video app platform
NEW YORK - Time Warner Investments has led a $12M Series B funding round for You.i TV, whose platform powers the design, development, and delivery of immersive 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 Inc. (NYSE: TWX), has begun to standardize 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.
About You.i TV
You.i TV is a privately held company serving TV and media companies worldwide with a multi-screen video app platform that creates fans, engages users and converts consumers. The platform, You.i Engine, lets brand owners build personalized, profitable experiences quickly on all platforms - mobile devices, set-top boxes, consoles, and streaming devices - from a single code base. You.i TV products power some of the most popular TV applications in market today for Sony Crackle, Turner Broadcasting, shomi and Corus Entertainment, and You.i Engine has been licensed in all industry sub-segments: entertainment, kids, sports, and news. Visit us at www.youi.tv.
About Turner
Turner, a Time Warner company, creates and programs branded news, entertainment, sports, animation and young adult multi-platform content for consumers around the world.
About Time Warner Inc.
Time Warner Inc., a global leader in media and entertainment with businesses in television networks and film and TV entertainment, uses its industry-leading operating scale and brands to create, package and deliver high-quality content worldwide on a multi-platform basis.
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Time Warner Investments Leads $12M Funding Round in You.i TV September 13, 2016
