Time Warner Investments led a $12 million round of financing for You.i TV, which provides technology for the design, development and delivery of video applications.
Time Warner's Turner Broadcasting is standardizing its app development on the You.i Engine platform for its brands including TNT, TBS and Turner Classic Movie, which will soon release the direct-to-consumer over-the-top subscription service FilmStruck.
Also participating in the financing were Vistara Capital Partners and Kayne Anderson Capital Advisors.
Turner has been investing in a number of digital businesses lately, including Refinery29, iStreamPlanet, Bleacher Report and Great Big Story.
In addition to working with Turner, You.i TV's technology is being employed by Sony's Crackle, Roger Communications' shomi SVOD service and Corus Entertainment.
"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," said Scott Levine, managing director, Time Warner Investments, who will join the You.i TV board. "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.
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