Monday, December 22, 2014, 8:58 AM ET|Posted by Will Richmond
Multi-screen video processing provider Elemental Technologies has raised a Series D round of $14.5 million, led by Telstra, with participation by Sky and existing investors. With the round, Elemental has raised $44 million to date. Funds will be used for product development and to support global growth.
Elemental got its start with software-based encoding solutions, but in September launched Elemental Delta, a comprehensive video delivery platform for telco, OTT, broadcast, satellite and mobile operators delivering time-shifted TV. Elemental counts over 600 customers globally, including Sky, and is benefiting from the broader shift to on-demand and multiscreen viewing.
Meanwhile, the Elemental investment is the latest move into video for Telstra, Australia's largest telco and mobile provider. In August, it increased its ownership stake in Ooyala to 98%. Ooyala in turn acquired European video ad manager Videoplaza in October.