Monday, December 22, 2014

Elemental Technologies Finds $14.5M

Portland-based Elemental Technologies announced this morning that it has raised $14.5M in a Series D financing round, led by Australian telecommunications firm Telstra. European entertainment firm Sky, along with General Catalyst Partners, Norwest Venture Partners and Voyager Capital also participated in the funding. The company said the new funds go towards worldwide growth and expansion of its solutions. Elemental Technologies develops video encoding and transcoding software, which leverages commodity graphical processing units to provide real-time, high throughput conversion of videos into various video formats--which is key to delivering video across mobile devices, tablets, and other platforms. More information »