Roku Raises $45.5M MoreNew Round Could Tamp Down IPO Rumors 1/29/2016 5:30 PM Eastern
Roku has raised another $45.5 million, per an SEC document dated January 28.
The filing, spotted by Variety, follows a $25 million round in the fall of 2014 that took Roku’s funding total beyond the $150 million mark.
Roku has been the subject of IPO rumors in recent years, but the new funding could mean it’s avoiding that path as it seeks new businesses and growth opportunities.
In tandem with the Roku 4 launch last fall, the company said it had 7.5 million active Roku user accounts worldwide, and that its platform streamed 3 billion hours in 2014, and had eclipsed 2.5 billion hours streamed during the first half of 2015.
Earlier this month, Roku said TV-set maker TCL will introduce 4K-capable Roku TV models in the U.S. this spring, and that it had sold 1 million Roku-powered TVs by the end of 2015.
Roku is also pushing into the integrated TV segment with partners that include LG Electronics (for a limited release during the 2015 holiday buying season), Haier America, Sharp, Hisense and Insignia, which is Best Buy’s in-house brand. Roku also plans to expand distribution of Roku TVs to Mexico in the first half of 2016, complementing its Roku TV business in the U.S. and Canada.
Roku is also trying to amp up MVPD partnerships with Roku Powered, a licensing program in which pay TV partners use Roku hardware alongside customized interfaces. Most of Roku’s success in this area has occured overseas, though it has also been working with Time Warner Cable and with Charter Communications on skinny bundle video offerings that use Roku devices.