Elemental Technologies raises $7.1M for video software

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Elemental Technologies, a Portland, Ore. provider of parallel video processing software, has raised $7.1 million in new funding led by General Catalyst Partners and Voyager Capital.

Elemental says its software can perform video encoding, transcoding and filtering at unprecedented speeds without sacrificing quality by using general purpose graphics processing units (GPUs). Its first product is a video conversion application called the Badaboom Media Converter.