Elemental Technologies Raises $13M

Portland-based Elemental Technologies, which develops video transcoding hardware which takes advantage of GPUs (graphical processing units) to accelerate the transcoding process, has raised $13M in a new funding round, the firm is announcing this week. The round was led by Norwest Venture Partners, and also included prior investors General Catalyst, Voyager Capital and Steamboat Ventures. Elemental, which is led by Sam Blackman, helps content programmers, Internet and broadband service providers, and enterprises adapt video streams to fit the multitude of devices out there like iPhones, Android phones, flash, and other devices. The firm's hardware takes advantage of the commodity advances of GPUs to accelerate what would normally be a very computing intensive task. More information »