Streaming video tech provider Roku, regarded by some as strong competition for Apple, announced it has raised $45 million to further develop its branding, international expansion and new services.
Saratoga, California-based Roku has sold more than three million of its boxes that connect streaming services to TV sets. The company plans to launch its wireless, dongle-sized Streaming Stick this fall.
News Corp. and UK pay TV giant BSkyB are among Roku’s investors. Jon Miller, chief digital officer at News Corp., will join the Roku board.
“The new relationships include both financial backing and business agreements that demonstrate the industry’s confidence in Roku as the distribution platform to bring streaming entertainment to mainstream consumers,” the company said.
Roku currently streams content from News Corp.’s Fox News, Fox’s “The X Factor,” and “Wall Street Journal Live.” The company is one of BSkyB’s partners in its recently-launched online video service, NowTV.
“We have watched Roku maintain market leadership since the launch of its streaming platform four years ago and we look forward to deepening our relationship, having already worked closely together on the launch of several products,” says Miller. “Roku’s significant technology advantage, coupled with a strong market position, places them in a unique position to be an integral part of the television landscape for years to come.”
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