Qwilt, which was founded in 2010 by veterans of Cisco Systems and Juniper Networks and helps Internet-service providers deliver multiscreen video, has raised $24 million in two rounds of funding from Accel Partners, Redpoint Ventures, Crescent Point Group and other investors.
"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, partner at Redpoint Ventures who is a member of Qwilt’s board, in a statement. "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.?
Qwilt provides technology that identifies, monitors, stores and delivers Internet video through one platform. Qwilt, which is headquartered in Silicon Valley and has sales offices in Europe, is now testing its products with five global carriers.