Multiscreen software vendor Elemental Technologies has secured an impressive $14.5 million in financing from the likes of Australian telco Telstra, Sky, and existing investors such as General Catalyst Partners, Norwest Venture Partners and Voyager Capital.
Elemental will use the funds to accelerate worldwide growth and expand its suite of software-defined video (SDV) solutions to support the whole of the IP video delivery chain.
“Telstra and Sky recognize that partnering with innovators is a key to long-term success, and we recognize that we have an enormous amount to learn from these dominant business franchises,” comments Sam Blackman, CEO and Co-Founder, Elemental Technologies. “Telstra will use Elemental products across its large portfolio of media properties. 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.
Telstra has recently begun the deployment of 4G services on new 700MHz spectrum, in addition to the wide scale introduction of LTE Advanced technology to deliver ultra-fast mobile data speeds. The telco plans to leverage the entire Elemental product line, with a specific focus on Elemental Delta for its next-generation content delivery services.