Video technology company You.i TV, which powers TV apps for customers like WarnerMedia, Fox and the NBA, has closed US$23 million in growth capital.
You.i TV said the funds will help to expand You.i TV’s global footprint, developer community, and to “reimagine the ad experience”.
With the funding, Causeway Media partner, Bob Higgins, takes a seat on the company’s board. Causeway is an investment fund focused on sports media, sports technology, and related companies.
“We’ve been on a mission since we started to help developers take control of the fragmented world we live in. Enabling them with the right tools lets them do what they do best – build experiences that matter to users,” said Jason Flick, CEO and co-founder of You.i TV.
“This is just the beginning of shaping the future of all forms of media experiences. We are excited to have Causeway join the team with their well-rounded expertise in this space as we reach new markets and build out the community.”
Higgins added: “Today, content owners trade-off between engagement and monetisation and we think You.i TV’s product unlocks unlimited potential for changing that equation. We’re excited to partner with the team to amplify their already impressive reach in the sports and media ecosystem.”
You.i TV is privately-owned and says that its flagship You.i Engine currently powers millions of app installs for 14 major brands, including A+E Networks, AT&T, Warner Brothers and National Geographic.
The You.i Engine lets customers build cross-platform video experiences for mobile, streaming devices, game consoles, and smart TVs from a single codebase. The engine includes native player integration, video libraries and DRM support.
The company is headquartered in Ottowa, Canada, with staff in New York, Atlanta, Toronto and Los Angeles and claims to have grown more than ten-fold in the past five years.
The news comes less than a week after sports-media technology company, Deltatre, agreed to buy OTT software firm Massive Interactive in a deal worth roughly US$127 million. Deltatre provides end-to-end OTT video delivery for sports services like ATP’s Tennis TV, NFL Game Pass Europe and Juventus Pass, while Massive’s user experience software underpins streaming services for clients like the BBC, Bell Media and Channel 5.
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