Long rumored to have IPO plans, Roku is in advanced talks to receive a new private round of investment worth at least $200 million, Fortune reports.
According to the report, the OTT player and software maker has a “post-money” valuation of approximately $1.5 billion. The funding round will reportedly be led by U.S. investors, but "not standard Silicon Valley venture firms."
To date, Los Gatos, California-based Roku has garnered $210 million in investment from media companies including Hearst Ventures, Viacom, Fox Networks and Netflix.
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As pay-TV operators test the waters of OTT distribution, Roku—which doesn’t have a competing content business—has become a key partner.
In January, for example, Comcast began beta testing its Xfinity TV app on the Roku players of its customers.
"Roku is one of the largest providers of streaming TV devices and an innovative pioneer in the space, and we are thrilled to provide Xfinity TV customers with access to their subscription across Roku devices," said Mark Hess, senior VP at Comcast Cable.
Roku has not commented on the report of the new funding round.