Startup Elemental Technologies Inc. (ETI), a provider of parallel video processing software, recently closed its first round of venture capital financing with a total investment of $7.1 million.
General Catalyst Partners of Boston, Mass., and Voyager Capital of Seattle co-led the 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 EVP at Intel Corp. Bruce Chizen, former CEO of Adobe Systems, will join the board as an observer.
By using general-purpose, programmable, “off-the-shelf” graphics processing units (GPUs), ETI said its software performs video encoding, transcoding and filtering at unprecedented speeds while maintaining the highest video quality.
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