Tuesday, May 08, 2012
Portland startup Elemental Technologies raised $13 million in venture capital.
It's the company's third funding round, led by Norwest Venture Partners and joined by Elemental's prior backers.
Elemental now has $19 million in the bank, according to chief executive Sam Blackman. It plans to begin drawing on that stash, adding engineers and sales personnel to introduce its technology to broadcasters around the world.
"We really feel like we have an opportunity to grow very, very fast," Blackman said. "The only thing that's keeping us from growing faster is awareness."
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