The deal will see Zeebox integrated in to Sky's existing apps to allow viewers to interact over Twitter and Facebook as they watch Sky programmes.
Sky has also announced that the Sky+ app for smartphones and iPad will soon double as a fully functioning remote control.
The deal with Zeebox sees Sky take a 10% equity stake in Zeebox, the social media platform.
Already live as an app for smartphones and tablets and directly via the web, Zeebox will integrate with existing Sky apps - Sky+ and Sky Go - to give viewers an enhanced viewing experience.
As well as the ability to interact with other viewers using social media platforms such as Facebook and Twitter, Zeebox provides extra information on programmes, actors and more.
Sky will become the only TV platform in the UK to integrate Zeebox in to its own apps.
Also coming later this year are updates to the Sky+ app: users will be able to access and edit their Sky TV planner, and the app will also work as a remote control for your Sky box at home.
Release dates for the new Zeebox-powered app and the updates to the existing Sky apps are yet to be announced.