Qwilt Raises $24 Million for Video-Delivery System
REDWOOD SHORES, Calif. -- Qwilt Inc., a provider of pioneering video-infrastructure products that are enabling the online-entertainment revolution, has raised $24 million in two rounds of funding from Accel Partners, Redpoint Ventures, Crescent Point Group and other investors. The company, founded in 2010 by veterans of Cisco Systems and Juniper Networks, helps Internet-service providers more efficiently and cost-effectively deliver high-quality video to their customers - meaning more consumers can see video from sources like Netflix, YouTube and Amazon in the highest possible quality, when they want.
"So much of the buzz about Internet video today is on the consumer side, around the incredible growth of services like Netflix and Hulu, which are feeding shows and movies to users on PCs and smartphones," said Tom Dyal, a veteran networking investor and partner at Redpoint Ventures who is a member of Qwilt's board. "But few people are talking about the enormous strain all this new content is putting on Internet providers - the companies forced to carry all this video through their overburdened pipes." Redpoint partners were early investors in Netflix.