Qwilt, a provider of online video delivery and transparent caching solutions, has closed a $16 million Series C funding round led by Bessemer Venture Partners, with contributions from its current investors, Accel Partners, Redpoint Ventures and Marker LLC. The new funding brings the company’s total capital raised to $40 million. The new investment will be used to expand its international sales and engineering teams to meet global network operator demand for its flagship product, the Qwilt QB-Series Video Fabric Controller.
The growth of online video is straining the capacity and performance of operator networks, creating a strategic dilemma for cable, broadband, and mobile service providers. To keep pace with consumer demand and remain competitive, operators need to simultaneously address three strategic imperatives: improve consumer quality of experience (QoE), cost effectively increase network capacity and monetise OTT video traffic across their networks. Qwilt’s innovative video delivery technology enables operators to significantly increase network capacity, at a fraction of the cost of a traditional network expansion, while improving quality of service for customers. Deployed at the subscriber edge, Qwilt’s highly optimized video content delivery system supports a flexible network architecture that can both scale to support future increases in demand for OTT video content and enable new monetization business models for network operators.