Qwilt Raises $16 Million In Series C
Qwilt is a startup that has designed video infrastructure that helps service provider companies handle Internet video streaming. The company exited stealth mode in the fall of 2011. Qwilt has raised $16 million in Series C funding led by Bessemer Venture Partners. Previous investors Accel Partners, Redpoint Ventures, and Marker LLC also participated in this round. Qwilt has raised a total of $40 million so far.
Qwilt uses video fabric controllers to help carriers reduce the impact of over-the-top (OTT) video traffic on their networks. Video streaming requires heavy demand in terms of Internet trapfic. Video streaming is expected to grow to 70% by 2017.
“It’s probably one of the biggest challenges that network operators are going to face in the next decade,” stated Qwilt chief executive officer Alan Maor. Qwilt’s software gets installed on the client’s hardware. From there, it grabs popular content and maintains a local copy that can be streamed from that location without taking up bandwidth on the carrier’s main network infrastructure, according to AllThingsD.
The company is helping increase the viewing quality of videos. The average bit rate on a YouTube video has improved by 58%.
The company landed 25 deployments with customers thus far. Every deployment is plug-and-play. Once the software is installed, the video load on the carrier’s network gets halved.