Publish Date : 26-Dec-2014
Telstra Ventures today announced it has made an equity investment in Elemental, the leading supplier of software-defined video (SDV) solutions for multiscreen content delivery. Elemental helps media companies connect consumers with video content across multiple screens – including connected TVs, computers, tablets, smartphones, set-top, and other IP devices – using software-defined video solutions to ensure high quality, high definition viewing experiences. Telstra Ventures Managing Partner, Mark Sherman said service providers, content programmers, broadcasters, live event producers and enterprises worldwide were showing strong demand for Elemental’s disruptive video processing solutions, as consumers increasingly shift to streaming content across multiple devices.
“With the consumption of digital video across multiple devices increasing year-over-year, the mechanisms for delivering high quality viewing to the end user is evolving from hardware to software and to the cloud. “Telstra’s equity investment, soon to be combined with a commercial agreement that is currently being negotiated, will allow the company to integrate solutions from Elemental into the company’s network. This will provide media and broadcast customers with access to an award winning video solution for multiscreen content delivery and offer flexibility and scalability to ensure a great customer experience.
We also plan to use Elemental’s solutions internally, across our large portfolio of media properties such as IPTV, Foxtel on T-Box, AFL, NRL and BigPond movies to deliver high quality video performance across a multitude of devices for customers,” said Mr Sherman. “With our international connectivity, Telstra intends to make Elemental cloud capability available to its media customers globally in virtual hosting facilities”. The financing is part of a $14.5 million series D round of funding led by Telstra and joined by Sky in the UK, along with participation from existing Elemental’s investors.
Sam Blackman, CEO and Co-founder of Elemental said, “Elemental and Telstra’s shared belief that the future of video delivery will be dominated by mobility, IP, and software-defined video architectures has brought our companies together with a common purpose. We’re excited to unite our resources with the goal of executing a shared strategy for IP video distribution on a global scale.” Elemental’s key multiscreen accounts include the BBC, Comcast, Foxtel, HBO, Media Prima, NHK, Telefónica, and TrueVisions.
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