Thursday, July 17, 2008

Elemental Raises $7.1M

Portland, Oregon-based Elemental Technologies said Thursday that it has raised $7.1M in a first round of venture funding. The firm, which develops massively parallel video processing software, said the round came from General Catalyst Partners and Voyager Capital, both of which co-led the round. Elemental said that Neil Sequeira of genral Catalyst, Erik Benson of Voyager Capital, Frank Gill, formerly of Intel, and Bruce Chizen, former CEO of Adobe Systems, will all join the board as part of the funding. Elemental was founded by Sam Blackman, Jesse Rosenzweig and Brian Lewis, of Pixelworks. Elemntal Technologies previously raised seed funding from the Oregon Angel Fund, the Bend Venture Conference and Seattle Alliance of Angels. More information »