Canada-based video app development platform You.i TV has completed a $23m funding round that included WarnerMedia, the media and entertainment conglomerate formerly known as Time Warner.
Media and entertainment-focused investment fund Causeway Media Partners led the round, which also featured private equity group Kayne Anderson Capital Advisors and growth capital firm Vistara Capital.
You.i TV’s software, dubbed You.i Engine One, enables broadcasters and media companies to build apps that allow viewers to engage with video content on mobile devices, game consoles, set-top boxes and streaming devices.
The funding will help the company expand its global presence and build out its developer community. Time Warner Investments, the corporate venturing unit now named WarnerMedia Investments, contributed to a $12m round for You.i TV in 2016 alongside Vistara and Kayne Anderson.
Kayne Partners, a subsidiary of Kayne Anderson Capital Advisors, had led a $15m funding round for the company the year before.
Jason Flick, co-founder and chief executive of You.i TV, said: “We have 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. This is just the beginning of shaping the future of all forms of media experiences.”