Elemental secures $14.5m in Telstra-led financing24 December 2014
Elemental Technologies has secured $14.5m in series D financing led by Telstra, Australia’s largest telecommunications and information services company.
Telstra is joined by Sky, Europe’s largest entertainment company, and existing investors 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 is Australia’s leading mobile services provider and is committed to advancing mobile networks to manage the future wireless data needs of its customers. Most recently, Telstra has 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.
Elemental Delta combines just-in-time (JIT) packaging, origin services, intelligent caching, dynamic ad insertion and replacement, and end-to-end encrypted content protection functions in a single solution. The video delivery platform helps media companies and content distributors reduce content delivery network (CDN) cost and complexity.
“With its software-defined video processing and delivery solutions, Elemental is at the forefront of video delivery and the evolution of content monetisation. Our investment in Elemental will enable Telstra to create value for our global media customers,” said Mark Sherman, Global Enterprise and Services managing director, Ventures, for Telstra. “Elemental’s unique offer provides the flexibility and scalability to ensure a great customer experience despite high network traffic demands.”
Elemental Delta, which was announced at IBC in September 2014, is already gaining significant momentum and is the company’s fastest growing product introduction. In just three months, major telcos, OTT, broadcast, satellite and mobile operators in the US, Europe, Asia, and Middle East have deployed the IP video solution to deliver premium content.
“This investment round led by Telstra, combined with the funding participation by Sky and our accelerated growth to more than 600 customers, illustrates the momentum behind our vision for software-defined video,” said Sam Blackman (pictured), CEO and co-founder for Elemental. “We are thrilled to partner with Telstra and Sky, two of the most technologically advanced operators on the planet. Elemental’s SDV platform combined with Telstra’s world-class wired and mobile networks will set the standard for a new generation of flexible and scalable video services.”
“This investment builds on Sky’s existing commercial relationship with Elemental and our leading position in internet-delivered video, and enables Sky to tap into the company’s experience and expertise in this area,” said Emma Lloyd, director of Corporate Development and Startup Investments for Sky.