Roku raises another $25m
October 23, 2014
Roku has raised another $25 million taking the streaming media company’s total funding beyond the $150 million mark.
Roku has said the new round is to provide “additional growth capital.” 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. Roku has raised a total of around $153 million in eight rounds.
The new funds come 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.