Elemental Technologies, a Portland, Oregon-based provider of massively parallel video processing solutions for broadcast and online video customers, has raised $7.5m in Series B financing.
Investors include Steamboat Ventures, a venture capital firm affiliated with The Walt Disney Company, and existing backers General Catalyst and Voyager Capital.
In conjunction with the investment, Scott Hilleboe, Managing Director at Steamboat Ventures, will join Elemental’s board of directors.
The company, which help content owners and distributors customize and multiply video for delivery to an ever-expanding array of viewing platforms and devices, will use the capital to expand its business in the United States and internationally.
Elemental Technologies recently launched Elemental Live and Elemental Server solutions.
Customers among others include CBS Interactive, News-Press & Gazette and ABC News.