You.i TV, a maker of user interfaces for a wide range of video platforms, said it has landed a $12 million “B” round led by Time Warner Investments.
Tied in, Turner, a unit of Time Warner Inc., has begun to standardize their application development on the You.i Engine platform, the company said. Scott Levine, managing director, Time Warner Investments, is joining the board of Ottawa, Canada-based You.i TV.
You.i TV has raised about $21 million (C$15 million and US$12 million), following a round raised last year led by Kayne Anderson Capital Advisors. Kayne Partners and new investor Vistara Capital Partners also participated in the B round.
You.iTV said the new strategic investment will be used to help it meet demand, enhance its app designer workflow intellectual property, and expand its partner channels.
The You.i Engine is already powering video apps for Sony Crackle; shomi, the SVOD service from Rogers Communications and Shaw Communications; Corus Entertainment; as well as Turner’s TNT, TBS, and FilmStruck, a direct-to-consumer SVOD service from Turner Classic Movie that’s expected to launch later this year.
“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, in a statement.
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