Qwilt announced $25 million in Series D funding for its open caching and online video delivery solution.
Qwilt’s solution is 100 percent software-based, running on commodity, off-the-shelf hardware. Its open cache software architecture leverages the NFV/SDN environments being implemented by network operators worldwide. The company said its sales grew 400 percent year-over-year in 2014 with more than 80 deployments of its Qwilt Video Fabric solution worldwide.
The funding round was led Disrupt-ive with a $16 million investment, and includes new funding from Google Chairman Eric Schmidt’s Innovation Endeavors and continued funding from Cisco Investments. Existing investors Accel Partners, Bessemer Venture Partners, Marker LLC and Redpoint Ventures also contributed to the round. The company has raised $65 million to date.
“Since we launched just a few years ago with a vision to solve the streaming video problem for network operators, the strategic value of open caching has been broadly embraced as a crucial part of the new network architecture that is required to scale online video for the future,” said Alon Maor, CEO and co-founder of Qwilt. “We recognized the full scope of the opportunity early on and enhanced our open caching solution to support all types of online video, including live streaming. Furthermore, we have proactively extended our product line to address any network medium or configuration, including mobile, telco, cable and even university campus networks. This new funding speeds our ability to scale the company and get our technology deployed faster. We’re proud to be included in the impressive portfolios of these strategic investors.”
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