Saturday, May 14, 2011

Peel Secures $16.7 Million in Series B Financing

Peel, the company that provides a personal television recommendation system to find, discover and tune in to your favorite TV shows, movies and sports entertainment, today announced it has secured a $16.7 million Series B round of financing. The deal was led by Ravi Mhatre from Lightspeed Venture Partners based in Menlo Park, California. The Series B funding will enable the company to move forward with additional retail opportunities for the Peel device, as well as for expansion of the Peel application for additional mobile platforms and content sources.
"Peel is at the forefront of a profound shift in how people watch television and we are proud to be a part of the Peel team," said Ravi Mhatre of Lightspeed Venture Partners. "Peel is the 21st century way to interface with TV. It enables discovery, control and sharing of living room entertainment in a very slick and simple way. It will revolutionize how entertainment is consumed in the living room."
Founded in 2009, Santa Clara-based Peel previously raised its Series A investment with Redpoint Ventures, known for its successful endeavors in consumer entertainment and interactive media including Netflix and TiVo. Satish Dharmaraj from Redpoint led the Series A round. Michael Dearing from Harrison Metal led Peel's Seed round, along with Mitch Kapor from Kapor Capital and Steve Anderson from Baseline Ventures. Several of these Seed investors, along with Redpoint Ventures participated with Lightspeed in the Series B round.

Peel Universal Remote Control

Choose and control entertainment with iPhone.

Peel is a popular free app that lets you discover and locate TV you'll love by learning the shows you already watch and like. Add Peel universal control for remote control of your whole entertainment system, allowing you to watch with a single tap and control volume, channel, source and more with simple gestures—all right from your iPhone or iPod touch.

  • Guide learns what shows you like and suggests new ones
  • One tap controls your entire home entertainment system
  • Simple gestures control volume, channel, DVR, and more
  • Unobtrusive wireless Peel fruit controls your system
  • Quick setup with a simple and intuitive interview

About Peel
Peel was founded around passion for making the home entertainment experience friendlier. Combining program discovery, simple and seamless universal control and shared entertainment experiences steps beyond simple remote controls and changes the TV landscape.

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