Elemental raises $7.5M to make video encoding a breeze |
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Elemental raises $7.5M to make video encoding a breeze
Voyager Capital is becoming pretty good friends with Mickey Mouse. The Seattle venture capital firm has partnered once again with Steamboat Ventures -- the venture capital arm of The Walt Disney Company -- to back a Pacific Northwest technology upstart. The latest beneficiary of the cash is Portland video processing startup Elemental Technologies, which today is announcing $7.5 million.
Previously, Voyager and Steamboat bankrolled Ontela -- an online photo service that merged with PhotoBucket late last year -- and GroundTruth -- a mobile metrics startup that raised $7 million in April.
In the latest financing deal, Steamboat Ventures' Scott Hilleboe will join Elemental's board. Other board members include Voyager's Erik Benson and former Adobe CEO Bruce Chizen.
Elemental plans to use the new funds to market its recently launched Elemental Live and Elemental Server technologies. Those services help content distributors with video and audio recording for live streaming as well as video transcoding. Customers include CBS Interactive and News-Press & Gazette, with the company also announcing today that ABC plans to use the Elemental's technology to make its video content library available on the ABC iPad app.
The company is led by co-founders Sam Blackman, Jesse Rosenzweig and Brian Lewis, all of whom previously worked at Pixelworks.
Here's Blackman talking about the technology with Beet.TV, saying that Elemental helps publishers create a streamlined process to publish video across various platforms.
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