Roku Raises $60 Million From Investors In Latest Funding Round

The streaming media player maker said today it has received $60 million from new investors, including Hearst Corp., to help build its streaming software and services businesses. Roku said the latest funding round was led by “one of the world’s largest institutional investors” which it did not name, along with Hearst. Prior investors, including BSkyB and News Corp, contributed $45 million to Roku last July. Best known for its lineup of popular streaming players, including the new Roku 3, the company is extending its streaming platform by working with other consumer electronics brands. In a statement, Roku says more than 3.5 million Roku Ready devices, predominantly TVs, will be in retail by the end of the year. Roku Ready devices access the Roku streaming platform through the Roku Streaming Stick, a small USB-sized device sold by Roku. “Roku has a significant portfolio of investment and strategic partners with very successful global businesses. Their recognition of our brand success and belief in the Roku platform is a tremendous endorsement of our potential to shape the future television experience,” Roku Founder and Chief Executive Officer Anthony Wood said in a statement. “BSkyB and News Corporation are exceptional partners and we look forward to deepening our relationship with Hearst in the months to come.” In the coming months, Roku says it will continue to expand access points to its streaming platform.

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