Video Processing Perspectives

Many of you who read this blog loyally have complained recently that it's not being updated enough. Well, there's been a good reason for that: here at ETI HQ we've not only been focused on delivering the Badaboom™ Media Converter and RapiHD™ Accelerator for Adobe Premiere® Pro, we've been working on getting the capital base underneath Elemental solidified. Today I'm very happy to announce that we have closed our Series A financing round, bringing in two top-flight VCs and $7.1M to help us deliver on the promise of massively parallel computing. Check out the press release here.  The two we selected (ok, maybe they selected us as well :) ) were General Catalyst Partners, based in Boston, MA; and Voyager Capital, based in Seattle, WA. The capital will fuel our growth, but more importantly we are thrilled to have Neil Sequeira from GC and Erik Benson from Voyager joining our board of directors. Neil has deep domain expertise in the Internet media space, and Erik is one of the smartest, best connected VCs in the Pacific Northwest. I have no doubt they will help Elemental achieve great things. Speaking of which, they have already added value by helping us flesh out our board of directors. Along with Neil and Erik, Frank Gill has joined the board. A former Executive Vice President at Intel Corporation, Frank provides a shot in the arm to our marketing, sales, and business development acumen. Bob Greenberg from the Oregon Angel Fund will remain on the board, providing deep technical insight. And Bruce Chizen, most recently CEO of Adobe Systems, will join the board in an observer capacity. Under Bruce's leadership, Adobe build tremendously innovative technologies including Flash and Acrobat; we are looking forward to following in the footsteps with RapiHD.  Finally, Roy Coppinger will transition off the board into an advisory role. Roy has been with us at Elemental since day 1 -- actually, since day negative 30 or so -- and we wouldn't be where we are today without his patient counsel. Thanks for all your hard work, Roy! We are excited to begin the next chapter in Elemental's story. And I promise that the blog will be updated more frequently from now on.

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