Sky Invests in Multiscreen Video Leader Elemental
Sky has made a $4m equity investment in Elemental Technologies, a US-based software company specialising in multiscreen video delivery. Elemental is a leader in video processing, providing software that enables broadcasters and pay TV operators to stream live and on-demand content to laptops, tablets, smart phones and TVs. This helps companies like Sky to create an even better and more reliable experience for customers watching content flexibly, on internet-connected devices.
As Europe's biggest investor in television content, Sky has embraced the use of new technology to enhance the experience enjoyed by its customers. In addition to being the UKs number one connected TV platform, Sky also operates three of the UKs leading dedicated over-the-top (OTT) services Sky Go, NOW TV and Sky Store. Millions of customers regularly consume content through Skys range of OTT services, including those available through the recently acquired Sky Deutschland and Sky Italia.
This investment builds on Skys existing commercial relationship with Elemental for Sky Go and enables Sky to tap into the companys experience and expertise in building flexible software solutions to enable next-generation IP video delivery. In addition to an ongoing commercial relationship, Sky will have strategic access to the Elemental leadership team, which will help inform Skys long-term understanding and insight into future OTT developments.
For Elemental, the relationship with Sky will give the company valuable access to an entertainment company that is at the forefront of multi-platform, multi-device video delivering OTT content at scale to millions of customers. This will bring commercial benefits through the practical application of Elementals technology and as well as strategic benefits, with Sky providing a content owners perspective on the future development of multi-platform viewing.
The financing is part of a $14.5 million Series D round of funding led by Telstra, Australias largest telecommunications and information services company, along with participation from Elementals existing investors.
Emma Lloyd, Skys Director of Corporate Business Development and Startup investments, comments: Internet-delivered video is fundamental to Skys business and will continue to grow in importance as more and more customers access content across multiple screens and devices. By investing in Elemental, we not only strengthen our existing commercial partnership, but we have the opportunity to share perspectives and insight into how the combination of new technologies and changing customer demands will shape the video landscape of the future.
Sam Blackman, CEO and Co-founder of Elemental Technologies, comments: As the video industry transitions to a keen focus on the viewer, Sky is defining what high-quality video on any device can be. Were pleased that our implementation of software-defined video is resonating across the industry and has the economic and strategic support of an industry leader like Sky.
The partnership with Elemental builds on Skys ongoing programme of investing in innovative startups. It follows recent investments in the cross-platform network Whistle Sports; online video aggregator Pluto.TV, and US ad tech firm Sharethrough.
For more information, including details on Skys San Francisco team, please visit: www.sky.com/startups
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Sky has made a $4m equity investment in Elemental Technologies, a US-based software company specialising in multiscreen video delivery. Elemental is a leader in video processing, providing software that enables broadcasters and pay TV operators to stream live and on-demand content to laptops, tablets, smart phones and TVs. This helps companies like Sky to create an even better and more reliable experience for customers watching content flexibly, on internet-connected devices.
As Europe's biggest investor in television content, Sky has embraced the use of new technology to enhance the experience enjoyed by its customers. In addition to being the UKs number one connected TV platform, Sky also operates three of the UKs leading dedicated over-the-top (OTT) services Sky Go, NOW TV and Sky Store. Millions of customers regularly consume content through Skys range of OTT services, including those available through the recently acquired Sky Deutschland and Sky Italia.
This investment builds on Skys existing commercial relationship with Elemental for Sky Go and enables Sky to tap into the companys experience and expertise in building flexible software solutions to enable next-generation IP video delivery. In addition to an ongoing commercial relationship, Sky will have strategic access to the Elemental leadership team, which will help inform Skys long-term understanding and insight into future OTT developments.
For Elemental, the relationship with Sky will give the company valuable access to an entertainment company that is at the forefront of multi-platform, multi-device video delivering OTT content at scale to millions of customers. This will bring commercial benefits through the practical application of Elementals technology and as well as strategic benefits, with Sky providing a content owners perspective on the future development of multi-platform viewing.
The financing is part of a $14.5 million Series D round of funding led by Telstra, Australias largest telecommunications and information services company, along with participation from Elementals existing investors.
Emma Lloyd, Skys Director of Corporate Business Development and Startup investments, comments: Internet-delivered video is fundamental to Skys business and will continue to grow in importance as more and more customers access content across multiple screens and devices. By investing in Elemental, we not only strengthen our existing commercial partnership, but we have the opportunity to share perspectives and insight into how the combination of new technologies and changing customer demands will shape the video landscape of the future.
Sam Blackman, CEO and Co-founder of Elemental Technologies, comments: As the video industry transitions to a keen focus on the viewer, Sky is defining what high-quality video on any device can be. Were pleased that our implementation of software-defined video is resonating across the industry and has the economic and strategic support of an industry leader like Sky.
The partnership with Elemental builds on Skys ongoing programme of investing in innovative startups. It follows recent investments in the cross-platform network Whistle Sports; online video aggregator Pluto.TV, and US ad tech firm Sharethrough.
For more information, including details on Skys San Francisco team, please visit: www.sky.com/startups