Peel Eyes Retail Opportunities with $16.7 Million in Financing

-- Lightspeed Ventures Partners Leads Series B Funding

Peel said it is looking at retail opportunities for its wireless device and mobile app, after raising $16.7 million in its second round of funding. 

Lightspeed Venture Partners led the investment in Peel, which makes a free app and a $99 wireless device which allows viewers to control their TVs, cable set-tops and other devices by swiping an Apple iPhone or iPod Touch. 

Peel's app is personal TV recommendation system designed to help viewers find their favorite TV shows and movies. When coupled with its $99.95 "fruit" – a pear-shaped wireless transmitter – viewers can use an iPhone or iPod Touch to control  their TVs and several set-tops, including TiVo DVRs, Apple TV, Roku's over-the-top video set-top and Blu-ray players. 

Santa Clara, Calif.-based Peel said the Series B funding will enable it to move forward with retail opportunities for the Peel device, which is currently available through the Apple Store and online stores. The company said it will also expand its Peel app to additional mobile platforms, and allow viewers to navigate additional content sources. 

Founded in 2009, Peel investors include Redpoint Ventures, Harrison Metal and Baseline Ventures. Peel said Redpoint and several of its seed investors joined Lightspeed in the Series B round of funding. 

North America