/ By Yoel Bermant/
According to Qwilt CEO Alon Maor, the rapidly expanding company will use the injection of capital in a drive to expand their international sales as well as recruiting people to their engineering teams in order to meet global network operator demand for its flagship product, the Qwilt QB-Series Video Fabric Controller.
In its third financing round since it’s founding in 2010, dynamic online video delivery solutions developer Qwilt Inc. has raised an additional $16 million in venture capital, making the total funding since their inception up to $40 million. For this round of funding Bessemer Venture Partners were the initial investors, who were soon joined by the company’s current investors Accel Partners, Redpoint Ventures and Marker LLC.
Qwilt was established in 2010 by Alon Maor, now the company’s CEO along with, Chairman Yuval Shahar and Dr. Giora Yaron who acts as a director of the company. Global headquarters for Qwilt are situated in Redwood City, California, where it retains its development center in Hod Hasharon, Israel while operating sales offices in the UK, Brazil, and Korea.
According to Alon Maor, the company’s success has been continuously driven by the dramatic demand for online video. A demand that is constantly straining both the capacity and performance of operator networks, and in turn creating a strategic dilemma for cable, broadband, and mobile service providers worldwide.
In order to keep pace with consumer demand whilst remaining competitive, operators of such systems are required need to simultaneously address three strategic imperatives.
- Improve consumer quality of experience,
- Cost effectively increase network capacity
- Monetize over-the-top video traffic across the networks.
Qwilt’s technology has been developed to enable operators to increase network capacity, and to do so at a fraction of the cost of a traditional network expansion, while simultaneously improving service quality for the viewers.
“We founded Qwilt with a vision to address the strategic problem of online video delivery for network operators. This investment from Bessemer, together with the ongoing commitment of our current investors, is further validation of our approach and momentum, ” stressed Maor.