Elemental Technologies CEO Sam Blackman wasn’t looking for cash. After all, more than half of the money from the company’s last round is still parked in the bank. But when you’ve got a business that’s nearly tripling revenues and operating in the super hot arena of mobile video processing, venture capitalists have the tendency to hover.
And hover they did around Elemental, a six-year-old Portland upstart that today is announcing a $13 million venture capital round from Norwest Venture Partners, General Catalyst, Voyager and others. That brings total funding in the 70-person company to just over $29 million.