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Roku Technologies Secures $6.1 Million in Second-Round Financing

Strategic Insights

— 1 min read

Roku Technologies, a pioneer in "liquid" information management, has secured $6.1 million in second-round financing led by PSINet Ventures, Draper Atlantic, and Nextel Communications. This investment serves as a testament to the industry's growing support for Roku's mission to break down barriers and enable seamless information flow between incompatible devices and applications. The funding will be used to expand the company's infrastructure and support the upcoming launch of a production version of Roku's software, which is currently in beta testing.

Key Takeaways:

  • Roku Technologies has secured $6.1 million in second-round financing, led by PSINet Ventures, Draper Atlantic, and Nextel Communications.
  • The investment is intended to support the development and launch of Roku's software, which enables seamless information flow between incompatible devices and applications.
  • Beta testing of Roku's software began in December 1999, and the company anticipates launching a production version this summer.
  • Roku plans to use the funding to expand its infrastructure and support marketing and promotional activities for the upcoming product launch.
  • The investment is a significant endorsement of Roku's vision to break down information barriers and create a limitless flow of information between devices and platforms.

Statistics:

  • $6.1 million: Amount of funding secured by Roku Technologies in second-round financing.
  • 1999 (December): Beta testing of Roku's software began.
  • Summer 2000: Anticipated launch of a production version of Roku's software.
  • 27 countries on five continents: Regions served by PSINet, a major investor in Roku Technologies.
  • 800 metropolitan areas: Number of areas with direct access to PSINet's services.
  • 96 of the top 100 U.S. markets: Areas served by Nextel Communications.

Sources:

  • BUSINESS WIRE, "Roku Closes Second Round of Funding," March 27, 2000, available at https://www.businesswire.com/news/home/20000327004674/en/Roku-Closes-Second-Round-Funding#.VQrG6OZYhNE
  • BUSINESS WIRE, "About Roku Technologies," March 27, 2000, available at https://www.businesswire.com/news/home/20000327004674/en/Roku-Closes-Second-Round-Funding#.VQrG6OZYhNE
  • PSINet, "About PSINet," March 27, 2000, available at http://www.psinet.com/about-psinet/
  • Draper Atlantic, "About Draper Atlantic," March 27, 2000, available at http://www.draperatlantic.com/about/
  • Nextel Communications, "About Nextel Communications," March 27, 2000, available at http://www.nextel.com/about-nextel/

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