Cisco invested in Qwilt, an Israeli startup that develops new tech for livestreaming. The amount invested was not officially revealed, but reports indicate that it was $70 million as part of a Series E round of investment. Qwilt now has a valuation of $800 million.
Qwilt boasts that it offers unique Edge Cloud Platform and Open Caching software and cloud solutions to help Internet Service Providers address the dramatic growth of streaming media on their networks and the need for low latency, high scale infrastructure to support future applications. Qwilt’s cloud-managed open platform, running on commodity compute and storage infrastructure, and deployed close to consumers, creates a distributed Edge Cloud that supports applications such as Open Caching, 4K Live Streaming, AR, VR, and IoT.
This low latency Edge Cloud architecture, says Qwilt, enables a “high-quality streaming experience for consumers on a massive scale.”
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“This investment signals an inflection point for Qwilt and Cisco to expand upon our shared vision to help service providers use edge computing to deliver digital content experiences from their own networks,” said Alon Maor, Chief Executive Officer, and Co-founder, Qwilt. “We are ready to accelerate our efforts by hiring new talent, elevating our marketing efforts and putting R&D into action for mass-scale growth.”
“Streaming is a primary focus for most service providers today to drive revenue. Cisco’s investment in Qwilt demonstrates our commitment to helping customers monetize their edge cloud infrastructure with a solution that improves the quality of service and reliability,” said Jonathan Davidson, Executive Vice President and General Manager, Mass-Scale Infrastructure Group, Cisco. “We are seeing great momentum with customers around the world who believe in the powerful combination of Qwilt and Cisco to take them to the next level with an innovative content delivery platform for streaming and on-demand services, new applications and more.”
Qwilt and Cisco’s unique CDN solution features an edge architecture, based on Open Caching from the Streaming Video Alliance, and a partnership-based business model in which service providers are part of the content delivery value chain. This new method for content delivery is enabled by Qwilt’s innovative CDN platform, coupled with Cisco’s edge compute and networking infrastructure to deliver the solution as-a-service.