Telstra, Sky Invest in Elemental Technologies
Elemental raised $14.5 million in its fourth round of funding
Elemental Technologies — which develops software-defined video systems for multiscreen and Ultra HD streaming — has raised $14.5 million in its fourth round of funding, led by Australian telco Telstra and Europe-based Sky.
Elemental is already used for Sky's OTT service, Sky Go. Telstra is expanding its mobile video delivery services and intends to standardize on Elemental technology.
"This investment round led by Telstra, combined with the funding participation by Sky and our accelerated growth to more than 600 customers, illustrates the momentum behind our vision for software-defined video,” said Sam Blackman, CEO and co-founder of Elemental, in a statement. "We are thrilled to partner with Telstra and Sky, two of the most technologically advanced operators on the planet."
Existing investors General Catalyst Partners, Norwest Venture Partners and Voyager Capital rounded out the companies participating in the fourth round of funding.
Portland, Ore.-headquartered Elemental, founded in 2006, is used for Turner's OTT service CNNGo, Comcast's Xfinity on Demand, and was the used for streaming last summer's FIFA World Cup (including in Ultra HD).