Internet TV platform Roku has received USD 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. The new relationships include both financial backing and business agreements.
Roku plans to use the funds 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 streaming players, the company will launch the Roku Streaming Stick this autumn. The product is a wireless, dongle-sized streaming device that 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.
In connection to the funding, Jon Miller will join the Roku board of directors. Anthony Wood will remain chairman of the board.
