Roku Receives $60 Million Investment

SARATOGA: Roku has been given a $60 million investment to put toward the growth of its streaming software and services businesses, with a leading institutional investor and Hearst Corporation joining prior investors such as BSkyB and News Corp.

Along with growing distribution for its platform, Roku will be focused on building up its collection of streaming entertainment. Last year Roku streamed more than 1 billion hours of video and music.

“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 Ventures, a unit of Hearst Corporation. “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.”

“Roku has a significant portfolio of investment and strategic partners with very successful global businesses. Their recognition of our brand success and belief in the Roku platform is a tremendous endorsement of our potential to shape the future television experience,” added Anthony Wood, Roku’s founder and CEO. “BSkyB and News Corporation are exceptional partners and we look forward to deepening our relationship with Hearst in the months to come.”