Roku Raises $25 Million More
An SEC filing revealed that Roku has raised a new $25 million round of funding that extends the streaming media company’s total funding beyond the $150 million mark.
Roku told VentureBeat that the new round is to provide “additional growth capital,” but declined to disclose any other additional information not mentioned in the filing. Of recent note, BSkyB announced that it had invested another $700,000 in Roku, a move that followed its earlier $12.2 million investments it made in Roku in July 2012 and May 2013. According to CrunchBase, Roku has raised a total of $153.1 million via eight rounds.
The new funds come into play as Roku faces stiffening competition from the Apple TV, Amazon’s new Fire TV box, and Google, which recently introduced its first Android TV-based device, the Nexus Player, and is expanding its strategy for the Chromecast to include a second generation of the streaming adapter and plans to embed Chromecast functionality into other devices.
To read the full story, visit Multichannel.com.
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