Roku grabs $8M

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  1. Rickaren

    Rickaren New Member Staff Member

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    Roku grabs $8M, weeks after releasing Roku 2

    August 12, 2011

    [​IMG]Roku, a device that streams web content to televisions, has collected $8 million in funding, according to a form D filed with the SEC today. Included in the round are Menlo Ventures and Robert Kyncl, vice president of TV and film entertainment at Google.

    The company, which spun off from Netflix three years ago, released the second version of its streaming device in July. The Roku 2 XS player took the company out of its streaming-video comfort zone by adding games and motion controllers. VentureBeat lead writer, Matt Lynley demo-ed the Roku 2 XS in the video below. Angry Birds launched as Roku’s flagship game title.
    The $100 Roku 2 XS is the priciest in the Roku line, but is competitive with Apple TV, which retails for the same amount. Though the company is branching out into new forms of entertainment, such as gaming, at the device’s core is Netflix’s app. Hulu, another video streaming company, can also be streamed off of Roku.
    VentureBeat has contacted Roku for more details on the funding and will update when we hear back.
    Listed on the form D is Roku chief executive Anthony Wood, chief financial officer Oliver Hutaff, vice president of business development Jim Funk, Shawn Carolan of Menlo Ventures, Google’s Robert Kyncl, and Daniel Leff of Globespan Capital Partners, Jeff Hastings, chief executive of BrightSign.

    Roku introduced BrightSign in 2006, founded by Anthony Wood, who currently acts as the company’s chairman of the board. BrightSign creates solid state digital sign and kiosk controller products. That is to say, the product controls digital or interactive signs, such as retail display screens.
    Whether Roku and BrightSign will integrate technologies remains to be seen. Prior to Roku and BrightSign, Anthony invented the DVR, or digital video recorder.
    The company has sold $8 million for it’s funding, but is still looking to add $750,000 to the pot.

    Last edited by a moderator: Jul 30, 2014

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