StumpTECH
Elemental On A Roll...And HiringTuesday, May 8th 2012 by Kerry McClenahan
It’s always fun to share good news, particularly when it involves one of our members here at the Software Association of Oregon (SAO).  Our friends at Elemental Technologies just announced they have raised $13 million in Series C financing, led by Norwest Venture Partners (NVP) and joined by existing investors General Catalyst, Voyager Capital and Steamboat Ventures, who also participated in the round. This is another great win for an Oregon-based company and more proof, as if we needed it, of the creative vitality here in Techlandia. The new funding comes as Elemental invests aggressively to extend its leadership in the multiscreen content delivery market - and follows on the heels of last month’s report that a number of leading international broadcasters will use Elemental products to deliver coverage of the 2012 Olympic Games in London. In response to all these impressive developments, Elemental is expanding its workforce and aggressively seeking new talent - which is great news for Elemental, our gifted pool of local high-tech pros, and of course the larger Oregon economy. Elemental’s well-deserved success on the global stage is another reminder of how important the technology industry is to our state’s economic health. At a time of economic transition, Oregon’s high-tech sector is helping lead the way toward growth - a proof-of-concept for SAO’s vision for Oregon’s high-tech community to become a driver of economic development and be recognized as the hotbed of innovation it truly is. Oregon’s thriving high tech industry has long been one of the state’s best-kept secrets, but with success stories like Elemental - and with advocacy and support from organizations like SAO - news is getting out that Oregon is a fantastic place for tech companies to start-up, grow and succeed. And did I mention that Elemental is hiring? Kerry McClenahan SAO Board Member CEO of McBru |
