Santa Clara, Calif. – Peel, the developer of a personal
television recommendation system, said on Monday it has raised $16.7 million in
its second round of funding, led by Lightspeed Venture Partners.
First
round-leader Redpoint Ventures also participated, as did several of the
company’s original seed investors.
The company said it will use the proceeds to
move forward with additional retail opportunities for its Peel device, as well
as to expand its app to additional mobile platforms and content sources.
Founded in 2009, Santa Clara, Calif.-based Peel has developed universal remote
control system — which sells for around $100 — designed to operate devices
such as a TV, cable box, Blu-ray player, AV receiver, Apple TV and Roku.
Together with a free iPhone, iPad or iPod touch app, the system allows users to
touch a show on their wireless device and instantly begin watching it.
The app
also recommends TV programming to users, based on their personal preferences.
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