Watch videos later on the iPad, Xoom and Galaxy Tab with Squrl

Mobile app Squrl lets users save videos and watch them later across a number of tablet devices. The iPad (s AAPL) and HTML5 web app, which is now also optimized for the Motorola Xoom (s mmi) and Samsung Galaxy Tab 10.1, provides an easy way for users to bookmark and organize videos from a wide range of video sites and applications.

The Squrl app works with video sites and applications that are available on the iPad and other tablets, such as Netflix (s NFLX), Hulu, Vimeo, (s IACI) YouTube (s GOOG) and ESPN (s DIS), among others. In addition to being able to bookmark those videos, one of the key advantages of the app is being able to build playlists and to play them back on TV. Using the AirPlay functionality, users can stream videos from the app to their Apple TV. The app also has a picture-in-picture option to allow users to navigate through their bookmarked videos while playing them on the big screen.

There are a number of ways that Squrl users can save their videos: There’s a Squrl bookmarklet that they can use in the web browser, as well as a Squrl-provided email address that they can send links to. Integration with Facebook and YouTube authentication enables users to collect videos shared on Facebook while providing a seamless connection with YouTube playlists and subscriptions that they’ve already set up.

Squrl users can also share those video with social networks such as Twitter and Facebook, as well as by email and through Squrl’s own community. The app makers are counting on that community to help users discover new videos. In the latest version of the iPad app, they’ve worked specifically to make it easier to find videos that other users have bookmarked to watch later.

Squrl was founded by Mark Gray and Michael Hoydich, who had previously built app and UI specialist IndustryNext. While IndustryNext was focused on working for enterprise clients like Comcast (s CMCSA) and Microsoft (s MSFT), Squrl is purely a consumer-driven app. So why go after consumers? Gray said in an interview that it’s because the two see a huge opportunity — and helping viewers aggregate videos on the iPad remains a challenge. Squrl’s not the only app maker looking to conquer this market, however; apps like WatchLater and Showyou also let users save content for later.

The two haven’t yet decided on a revenue model — or at least they’re not disclosing it yet — but they’re working first on getting the user experience just right and trying to reach critical mass. Squrl now has 10 people working on the self-funded project, but they are currently talking to various people about investment.