Roku Raises Money From Menlo Partners

Roku, the Saratoga, Calif.-based maker of the Netflix Player by Roku, has received Series C funding from Menlo Ventures.

Press release:
Roku Inc., a leading innovator in digital media technology and maker of the popular Netflix Player by Roku, today announced it has received Series C financing from Menlo Ventures. This round follows a Series B investment from Netflix, Inc. that closed in January of this year.

Shawn Carolan, a Managing Director at Menlo Ventures, will join the board of Roku. “For years we’ve been looking for a company to bring the convenience and selection of Internet video to the television in a compelling way,” said Mr. Carolan, “when we met the Roku team, observed their success with the Netflix player, and came to know their roadmap we knew our search was over”.

Roku’s digital video player was introduced in May of this year in partnership with Netflix, and has garnered enthusiastic reviews for its tremendous value, growing selection of content, and ease-of-use. The Company plans to use the additional funds to build on its position as a leader in the growing market for devices that stream media to the television.

“We are delighted to have the backing of Menlo Ventures,” said Anthony Wood, Roku’s Founder and CEO. “The partnership will enable us to extend our lead and bring new innovations to the category.”

ABOUT ROKU
Roku is a market leader in innovative applications for digital media. Through its work in both software and hardware, the company develops and sells consumer products and business solutions to bring rich media to the end user. Its products include: The Netflix Player by Roku, and the BrightSign digital signage controllers. Roku is privately held and based in Saratoga, Calif. For more information on the company and its products, visit: http://www.roku.com.

ABOUT MENLO VENTURES
Menlo Ventures provides long-term capital and management support to early-stage and emerging-growth companies. Menlo is one of Silicon Valley’s oldest venture capital partnerships, and has organized and managed ten venture funds since their inception in 1976. With over $4 billion under management, and a team with over two hundred years of collective experience in technology, marketing, sales and general management, they have the resources to support the most ambitious of projects.

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