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Bessemer Venture Partners leads $16m Qwilt Series C round

30 Jul 2013

video camcorderEarly stage investor Bessemer Venture Partners has led a $16m Series C financing round for online video delivery business Qwilt.

Accel Partners, Redpoint Ventures and Marker also renewed their commitment to the company by taking part in the round, which brings Qwilt’s total capital raised to $40m.

Qwilt said the funding would go towards expanding its international sales and engineering teams to meet global network operator demand for its flagship product, the Qwilt QB-Series Video Fabric Controller.

Bessemer partner Bob Goodman said, “Operators are struggling to meet the rapidly growing demand for streaming video.

“In laymen terms [sic] it’s very difficult to deliver a quality viewing experience without straining their networks.

“Drawing on deep expertise in both networking and storage, Qwilt solves this problem with an impressive video delivery system that provides network operators with unprecedented visibility, control and improved quality of service.

“This smart approach to a tough problem is what attracted Bessemer, and frankly, it’s why they can point to high rates of adoption among operators as well.”

Bessemer raised $1.6bn for its most recent flagship fund in April 2011, and announced it planned to allocate about a quarter to companies in India.

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