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Time Warner invests in You.i TV
MUMBAI: US media conglomerate Time Warner’s investments division has led a $12 million 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.
Time Warner Investments MD Scott Levine 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 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, has begun to standardise 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. 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,” said Levine.
“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. 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,” added You.i TV CEO, co-founder Jason Flick.