Qwilt, the provider of network video-infrastructure technology, has raised $24 million in two rounds of funding from Accel Partners, Redpoint Ventures, Crescent Point Group, RealNetworks founder Rob Glaser and other investors.
The company, which was founded in 2010 by veterans of Cisco Systems and Juniper Networks, helps Internet-service providers more efficiently and cost-effectively deliver high-quality video to their customers. That means more consumers can see video from sources like Netflix, YouTube and Hulu in the highest possible quality, when they want.
Qwilt’s video-technology company solves a pretty big problem related to the recent explosion of video being delivered over the Internet (through Netflix, YouTube, Hulu, etc.), on multiple screens. Video now represents about 40% of all Internet traffic, and is projected to quadruple by 2015, when video is expected to make up more than two-thirds of all online activity. Streaming videos from the Netflix service alone make up 30% of Internet traffic during peak evening hours today. The fact is that there is an enormous strain all this new content is putting on Internet providers.
So how does Qwilt solve this? The startup’s technology can be used by carriers to identify, monitor, store and deliver Internet video. As Alon Maor, Qwilt’s CEO and co-founder explains, carrier networks are not architected for widespread online video user. Qwilt’s technology, which has been in stealth for the past two years, allow carriers to create a universal video delivery layer that works transparently, without interruption or changes to content provider or network infrastructures. Qwilt says its technology can be easily integrated into carrier networks as well.
Qwilt, which will launch in the first half of 2012,, is now testing its products in the US, Asia and Europe. The new funding will be used to scale the sales and engineering teams.