Net Set-Top Firm Roku Raises $8 Million Round - Broadcasting & Cable

Net Set-Top Firm Roku Raises $8 Million Round

Investors include Globespan, Menlo Ventures
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Roku, which sells a set-top box for accessing Netflix's streaming video service and other Internet-delivered content, raised $8 million in funding from investors including Globespan Capital Partners and Menlo Ventures.

The funding round brings Roku to about $32 million raised to date. Roku disclosed the funding in a filing Friday with the Securities and Exchange Commission, VentureBeat reported.

Also contributing to Roku's latest round was Robert Kyncl, currently vice president of TV and film entertainment at Google, who was formerly head of digital content acquisition at Netflix.

Netflix previously owned a stake in Saratoga, Calif.-based Roku, but sold its stake to Menlo Ventures.

Last month Roku launched its second-generation set-tops. The Roku 2 models are slimmer, use less power, provide enhanced features for Netflix and are designed to run casual games, including Rovio's Angry Birds.

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