Roku Receives $45M in Funding
Roku Inc., a Saratoga, Calif.-based streaming platform for delivering video, music and casual games to the TV, has received $45m in funding.
Backers include News Corporation, British Sky Broadcasting (BSkyB), existing investors Menlo Ventures and Globespan Capital Partners as well as an unnamed strategic investor.
The company intends to use the new capital to build 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.
Led by Founder and CEO Anthony Wood, Roku is a streaming platform for delivering video, music and casual games to the TV. The company provides streaming players which can be purchased from Roku and major retailers in the U.S., Canada, U.K. and the Republic of Ireland and is to launch the Roku Streaming Stick, a wireless, dongle-sized streaming device that integrates with newer TVs and consumer electronics devices.
In conjucntion with the funding, News Corporation Chief Digital Officer Jon Miller will join Roku’s Board of Directors.