Elemental raises $7.5M in Series B round
Video transcoder specialist Elemental Technologies has raised $7.5 million in venture capital.
The start-up has developed a set of proprietary algorithms that the company says allows a video provider to determine the bandwidth available to any given viewer and encode the video appropriately on the fly.
The company calls its technology Elemental Live and describes it as a "GPU-accelerated, enterprise-class video processing system that provides content distributors with video and audio encoding for live streaming to new media platforms."
The technology supports adaptive bit rate protocols, HTML 5 and multiple HD streams. Elemental Technology has built it into a video server that is now available.
The company is getting initial traction in Web video and mobile video circles. The company is partnered with Adobe, Nvidia, HP and Lenovo. Customers include CBS Interactive, News-Press & Gazette and ABC News.
Elemental's Series B funding was provided by new investor Steamboat Ventures, a venture capital firm affiliated with The Walt Disney Co., along with previous backers General Catalyst and Voyager Capital.
Steamboat's managing director, Scott Hilleboe, has taken a seat on Elemental's board.
"Steamboat clearly recognizes the opportunities and challenges created by consumers' insatiable appetite for video," said Hilleboe. "Elemental's disruptive video processing solutions are poised to change expectations regarding content delivery to any device or screen with exceptional video quality and unmatched price-to-performance. The company's technology allows a publish once, display anywhere model, supporting the broadest distribution of rich media."