Peel Ripens by $16.7M
Santa Clara, CA-based Peel, which has developed a personalized TV recommendation system that uses the Apple iPhone and a device it calls the Fruit to substitute for traditional remote controls, said May 2 that it has raised $16.7 million in Series B funding, bringing its total funding to about $25 million. New investor Lightspeed Venture Partners led the round, which was joined by Series A investor Redpoint Ventures and several seed-round investors. The company said it would use the funds to place the Peel device in more retail stores, improve the Peel mobile app to include additional content sources, and port the app to other mobile devices.
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