Time Warner Investments Leads $12M Funding Round in You.i TV
September 13 2016 - 9:34AM
Business Wire
New financing to accelerate response to
increasing global demand for its multi-screen video app
platform
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.
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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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version on businesswire.com: http://www.businesswire.com/news/home/20160913006023/en/
You.i TVTrisha
Cooke613-608-6417trisha.cooke@youi.tvorTurnerMichael
Marinello212-275-6234Michael.Marinello@turner.comorTime Warner
Inc.Catherine Mirra212-484-7439Catherine.Mirra@timewarner.com
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