Elemental Technologies, Inc. secures first round funding from General Catalyst Partners and Voyager Capital
July 17, 2008
PORTLAND, Ore. -- 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.
"We now have the capital to aggressively ramp our RapiHD(TM) and Badaboom(TM) product lines, as well as attack new Internet and IPTV video processing markets," said Sam Blackman, CEO of ETI. "We are thrilled to have Erik, Neil, and Frank joining our Board, and look forward to the impact they will have on ETI's future."
Elemental Technologies Inc. (ETI)
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