Roku takes things to the next level with a big round of financing and very strategic investors.
Roku keeps on trucking. I still own one of their first products - an internet music streaming device house in a metal tube. Now Roku makes one of the best and most affordable video service streaming boxes on the market. Roku today announced it has received $45 million in a new strategic investment. News Corporation, British Sky Broadcasting (BSkyB), prior Roku venture investors Menlo Ventures and Globespan Capital Partners as well as an unnamed strategic investor joined the round.
Don't Miss: Super Bowl 2017 Ads
The new relationships include both financial backing and business agreements that demonstrate the industry’s confidence in Roku as the leading distribution platform to bring streaming entertainment to mainstream consumers.
Roku will use the new capital to build further brand awareness through advertising, develop new international markets, and increase engineering and production to support sales growth of both hardware and digital media services on the platform including advertising, games, transactional and pay-per-view video as well as content packages. In addition to its line of popular and award-winning Roku streaming players, the company will launch the Roku Streaming Stick this fall – a wireless, dongle-sized streaming device that seamlessly integrates with newer TVs and consumer electronics devices. The streaming stick is Roku’s first step in expanding its platform from streaming players to Smart TVs and other devices connected to the TV.
Jon Miller will join the Roku Board of Directors. Anthony Wood will remain Chairman of the Board.
About Roku Inc.
Roku is the leading streaming platform for delivering video, music and casual games to the TV. Roku launched the first player to stream Netflix to the TV in 2008, and today stream more than 500 entertainment channels to millions of customers. Roku streaming players can be purchased from Roku and major retailers in the U.S., Canada, U.K. and the Republic of Ireland. Headquartered in Saratoga, Calif.; Roku was founded by Anthony Wood, inventor of the DVR.