Roku Raises $25M as Connected-TV Space Heats Up
The new funds come a few weeks after UK pay-TV giant British Sky Broadcasting and 21st Century Fox — both existing investors — announced additional investments in Roku. It’s not clear if those funds are included in the $25 million Roku is now reporting to the SEC. The company had previously raised $128.1 million across multiple rounds, per CrunchBase.
Roku confirmed the new round to GigaOm, though declined to disclose who invested as well as what the capital would specifically go toward — it would provide “additional growth capital,” said a Roku spokesperson to GigaOm.
Roku faces increased competition in the connected-TV space. In addition to recent entrants like Amazon Fire TV and Chromecast, Google recently unveiled its first Android TV-powered set-top box, the Nexus Player.
For its part, Roku sales recently cruised past 10 million in the US. The company is also reportedly rolling out a video ad network, which would allow it to sell inventory across multiple apps (“channels”) available on the platform.Tags: connected TV, financing, Roku