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Streaming device maker Roku is in the process of raising a new round of funding, Fortune reported Friday . The company is looking to raise at least $200 million in new funding, according to the report. A Roku spokesperson declined to comment.
Roku has thus far raised more than $210 million in funding over several rounds, with investors including News Corp., Sky, Viacom, Hearst Corporation, Fidelity Investments, and Menlo Ventures. The new funding comes with a valuation of around $1.5 billion, according to Fortune.
Roku was founded in 2002 when it was spun out of Netflix; the streaming service had initially developed its own streaming hardware, but eventually decided to support a wider array of hardware and not compete directly with TV makers and others.
Roku is still best known for its own streaming boxes, but the company has also been licensing its software to TV manufacturers as well as TV service operators. Sky, for example, is using white-labeled Roku hardware in the U.K. for its own services.
In January, Roku revealed that it now has a 13 percent market share for smart TV sales in the U.S. , where it is directly competing with companies like Samsung, LG and Sony. The company also claims to have 13 million monthly active users across its streaming devices.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
