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Roku raises $60 million from Hearst Corp and others

Roku raises $60 million from Hearst Corp and others
Roku Inc.'s Roku 3 device. (Roku Inc.)

Roku Inc., which makes devices to stream online content on television sets, said Wednesday it has received $60 million from investors including New York publishing giant Hearst Corp.

The Saratoga, Calif., company said the Series F round was led by a "leading institutional investor," which the company did not name. The round included participation by BSkyB and News Corp., in addition to Hearst.

The Apple TV competitor said the new funding will help it build its streaming software and services businesses. Roku is best known for streaming players, which let users display video from Web services such as Hulu and Netflix on their TVs.

Roku, which was founded in 2002, raised $45 million from News Corp., BSkyB and others in July last year.

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