US firm Elemental Technologies has secured a new round of funding worth US$ 13mn as it prepares to target new markets with its video processing and delivery solutions, which are powering a growing number of multiscreen services, and delivering live coverage of the London Olympics in 30 countries.
The new round of financing was led by Norwest Venture Partners (NVP), which joins existing investors General Catalyst, Voyager Capital and Steamboat Ventures, who also participated in the round.
Elemental Technologies recently revealed that it is partnering with broadcasters and international rights holders around the globe to deliver live coverage of the 2012 London Olympics to mobile phones, tablets, PCs and other smart devices.
The company’s Elemental Live video processing system is helping process coverage of the Games in at least 30 countries across four continents, using a diverse range of delivery models, including in-country broadcast for over-the-top delivery, regional distribution across countries, and global transnational feeds.
Elemental Technologies got its start in the streaming sports market thanks to an early customer, Time Warner Oceanic, which deployed Elemental Live to deliver live coverage of college sports games to devices outside of the traditional broadcast TV infrastructure.
Bigger customers and events have since followed, including US sports network Big Ten Network, the Rugby World Cup, and the Pan American Games.
Most recently, Elemental Technologies revealed that it has been selected by Columbus Communications, a retail and wholesale telecoms company in the Caribbean and Latin America, to power new multiscreen services in a number of markets.
The expanded services, slated for rollout in September, will provide the region’s cable subscribers with access to live television and on-demand video on a variety of connected viewing devices.
In the initial deployment, Elemental Live is being used to create adaptive bit rate streams for both Apple Live Streaming (HLS) and Microsoft Smooth Streaming.
Cable customers in the greater Caribbean and Latin American region, including Jamaica, Trinidad‚ Curacao and Grenada, will initially have access to live broadcast output streams and an on-demand video library on PC, iPhone and iPad platforms. In subsequent phases, support for hybrid set-top boxes and larger screen viewing will be available.