Video streaming and advanced advertising specialist Roku is in talks to raise at least $200 million in a new round of funding at a valuation of about $1.5 billion, Fortune reported, citing sources familiar with the situation.
Fortune said Roku received a term sheet this week and that the round will be led by U.S.-based investors not named, but cited a source indicating that they won’t be “standard Silicon Valley firms.”
Roku declined to comment on the report.
Roku has already raised about $210 million, according to CrunchBase. Its investors include Fidelity, 21st Century Fox, Netflix, Menlo Ventures, Hearst, Sky, Menlo Ventures, and Viacom, among others.
Roku, the subject of IPO rumors in recent years, is a top provider of streaming platforms via its array of standalone devices that compete with OTT products from Google, Apple and Amazon. Roku has complemented that that with platform integrations on smart TVs from companies such as Element Electronics, Hitachi America, Haier America, Sharp, Insignia (Best Buy’s in-house brand), and Hisense, as well as a Roku Powered strategy focused on partnerships with MVPDs and other service providers.