What Company Is Offering:
Elemental Technologies, is the leading provider of massively parallel processing (MPP) solutions, initially targeting video applications. Utilizing general purpose, programmable "off the shelf" graphics processing units (GPUs), the RapiHD™ Video Platform is ideally suited for a variety of video applications ranging from consumer media processing to professional video editing to Internet video processing. Elemental's first product, the Badaboom Media Converter, is a faster-than-real-time, high-definition video conversion application that will enable the playing of any video on any device, anywhere in the world.
How Much They Got From VCs:
Elemental Technologies Inc. (ETI), a leading provider of massively parallel video processing software, has closed its first round of venture capital financing. Industry leaders General Catalyst Partners of Boston, Massachusetts and Voyager Capital of Seattle, Washington co-led this $7.1M investment.
Named to ETI’s Board of Directors are Neil Sequeira, Partner at General Catalyst Partners; Voyager Capital’s Managing Director Erik Benson; and Frank Gill, former Executive Vice President at Intel Corporation. Bruce Chizen, former CEO of Adobe Systems, will join the board as an observer.
More at:www.elementaltechnologies.com
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