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Elemental Technologies Raises $7.5M

Portland-based Elemental Technologies, a developer of massively parallel video processing products, announced today that it has raised $7.5M in a Series B funding round. The round was led by Steamboat Ventures, the venture capital arm of Walt Disney Company, and also included General Catalyst and Voyager Capital. Steamboat's Scott Hilleboe joins Elemental's board as part of the funding. Elemental Technologies is leveraging the technology in standard graphical processing units (GPUs) to accelerate the processing and transcoding of videos. The firm is headed by Sam Blackman. Elemental did not say if the various angel investment funds, including the Oregon Angel Fund and Alliance of Angels, participated in this new round of funding. More information »


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