Thursday, October 20, 2011

Qwilt Raises $24M

Redwood Shores-based Qwilt, a developer of video processing technology and infrastructure aimed at Internet video, said this morning that it has raised $24M across two rounds of funding. The firm said the rounds came from Accel Partners, Redpoint Ventures, Crescent Point Group, and others. Quilt develops technology to help manage the burden of Internet video for internet service providers, storing and offloading that video from ISP networks. The firm's founders come from Cisco Systems and Juniper Networks. The company is led by Alon Maor. More information »