When the Twitch app arrived yesterday, lots of people mentioned that the Funimation app is also on the way. Think of it as a rival to Crunchyroll, which we already have the app for. I suspect they must be planning to launch it soon, as the Funimation service will be bringing the Danganronpa series (new trailer below) to western eyes, with subtitles, in the next couple of weeks.
That would make a lot of sense given the Vita is the home format for the Danganronpa games and the huge number of anime fan owners. Hope that works out, as it'd be cool to see the new series (in the UK and US at least, not sure where else Funimation serves).