Streaming provider Roku has secured $60 million in new funding from an institutional investor as part of new funding round that also includes existing investor BSkyB and Hearst Venture.
Best known for its standalone streaming boxes, such as the new Roku 3, the company has ben working with around two dozen OEMs who between them will account for 3.5 million ‘Roku-ready’ devices. The new Roku Streaming Stick makes it possible to retrofit Roku delivered content to existing devices.
The identity of the institutional investor has not been disclosed, but media reports have indicated it to be Fidelity.
“Roku has built a strong brand that is widely recognized for great technology and a broad selection of high-quality content,” said Ken Bronfin,senior managing director at Hearst Venture “We are truly impressed that Roku has built such a unique position in the market and we look forward to working with them to develop innovative products and services for our television audiences.”
Sky, which uses Roku devices in the UK to distribute its NOW TV service, has made a modest $0.3m equity investment in Roku in addition to its previous $11.9 million.
