Qwilt, the leading provider of open caching and online video delivery solutions, Thursday announced that it has secured $25 million in new funds from its Series D funding round. This strategic round, led by Disrupt-ive with a $16 million investment, includes new funding from Google Chairman Eric Schmidt's Innovation Endeavors and continued funding from Cisco Investments. Other existing investors Accel Partners, Bessemer Venture Partners, Marker LLC and Redpoint Ventures also contributed to the round.
The funds, which bring Qwilt's total capital raised to $65 million, will be used to scale the company, including the acceleration of its go-to-market strategy and support for Tier 1 network operator deployments worldwide. The company will also use the funds to support, enhance and extend its open cache product, the Qwilt Video Fabric solution.
Tal Barnoach, General Partner at Disrupt-ive
There's a fundamental shift in how online video is consumed today given the proliferation of mobile devices and emergence of new streaming business models. Qwilt's impressive team -- with extensive expertise in both networking and storage -- has created game-changing technology to solve the challenges presented by this new world order of streaming video. Qwilt is a strong fit with our investment thesis as a late stage company with disruptive technology that can scale globally.
Alon Maor, CEO and co-founder of Qwilt
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. 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.