Portland, Oregon-based Elemental Technologies has announced that it has raised $14.5 million in series D financing.
Australia’s largest telco Telstra led the round, which also included investments from Sky, General Catalyst Partners, Norwest Venture Partners and Voyager Capital.
The provider of software technologies for multiscreen content delivery plans to use the funds to speed-up their worldwide growth and expand its suite of software-defined video (SDV) solutions to support the whole of the IP video delivery chain.
In a blog post, Elemental CEO and co-founder Sam Blackman noted that the company’s technologies had already been adopted by more than 600 customers in more than 55 countries but that the industry is on the verge of even bigger opportunities.
“In many ways, 2015 will mark an inflection point for the video industry as content creators and aggregators deliver ever-more innovative multiscreen services,” he wrote. “Furthermore, as the number of video-capable IP devices heads to 15 billion according to Ericsson, next-generation software-defined video infrastructure is required to support gigascale video distribution.”
As part of the funding round, Elemental announced that its technologies are being adopted by both Telstra and Sky.
Telstra, which has begun the deployment of 4G services on new 700MHz spectrum in addition to the wide scale introduction of LTE Advanced technology, plans to use the entire Elemental product line, including the Elemental Delta offering for its next-generation content delivery services, the companies reported.
In a blog post, Blackman also noted that “for Sky, Elemental solutions support its current multiscreen OTT Sky Go properties, and as SDV architectures continue to mature, we believe there will be additional opportunities to collaborate in the future.”