Elemental Technologies, a supplier of video solutions for multiscreen content delivery, has announced its placement among the 25 most promising privately held companies on the Forbes magazine annual ranking. This marks the second consecutive year Elemental has been named by the publication as one of one hundred privately held, high-growth companies with bright futures. Elemental showed the most significant rise in Forbes’ annual ranking of any company over the past twelve months, moving more than 30 spots from 54th to its current position as the 23rd most promising company in the country.
“We are proud to be named one of America’s Most Promising Companies by Forbes, and exceptionally pleased to receive this recognition two years running,” said Sam Blackman, CEO and co-founder of Elemental Technologies. “Our placement on the list attests to our best-in-class product line, exceptional customers and sustainable growth strategy.”
Elemental more than doubled its customer base in 2012 to include 250 leading media and entertainment brands across nearly 40 countries. Revenue also doubled year over year by continuing to satisfy the video processing needs of companies such as the BBC, Comcast, ESPN, HBO, MLB.com and the NBA. Double-digit growth in the global over-the-top (OTT) market as well as strong consumer adoption of tablets and other mobile video devices helped accelerate Elemental’s momentum over the past 12 months.
Forbes’ annual ranking recognizes the top 100 privately held companies to watch in the coming year. In conjunction with data research firm CB Insights, Forbes identified the top U.S.-based, private companies from a holistic perspective, taking into consideration each company’s growth, quality of its management team and investors, margins, market size, and key partnerships.