The company, which operates the majority of TV and radio transmissions infrastructure in the UK, launched SeeSaw last February after acquiring the video on-demand technology developed for collapsed joint venture Project Kangaroo.
Arqiva completed a strategic review of SeeSaw last October and is now seeking an investment partner to help with the "aim of accelerating the development of the service". The move is also part of a major reorganisation of Arqiva's business units.
Nick Thompson, managing director of Arqiva's Broadcast & Media business unit, said: "We've been looking at SeeSaw as part of a wider strategic review and, following the success in launching a pioneering new service to both consumers and advertisers, we now believe the service needs further investment to reach its full potential.
"SeeSaw is backed by unique technology and will be a major part of the connected-TV revolution, but we need to enable a step-change in the development of the service in what is a very fast moving environment."
Arqiva, which last week appointed John Cresswell as its new chief executive, said that it will explore "all investment options" for SeeSaw in order to support the company's long-term success.