Steamboat Ventures Backs Elemental Technologies

Los Angeles-based Steamboat Ventures, the venture capital arm of the Walt Disney Company, has backed a firm developing massively parallel video processing technology, Elemental Technologies. According to Elemental, which is based in Portland, Steamboat was a new investor in its $7.5M, Series B funding round. Other investors in the round included General Catalyst and Voyager Capital. Elemental is developing technology which uses off-the-shelf, graphical processing units (GPUs) to implement massively parallel processing, used for such things as video streaming and transcoding. Steamboat's Scott Hilleboe joins Elemental's board as part of the funding. Steamboat invests in technology firms that have products and technology applicable to the digital media world and which might be complementary to Walt Disney Company. More information »