San Francisco, NFAPost: As part of expanding its service delivery capability, Cisco Systems is going to invest $70 million in Israeli streaming software firm Qwilt at a valuation of $800 million.
Qwilt said the Series E funds will help fuel the company’s ambitions to build one of the world’s largest high-performing Content Delivery Networks (CDN) with global service providers.
CDNs are a structurally distributed group of servers that work together to provide fast content delivery. Qwilt also works with leading cable, telecommunications and mobile service providers to improve their streaming quality offerings.
Cisco Executive Vice President and General Manager, Mass-Scale Infrastructure Group Jonathan Davidson said Cisco’s investment in Qwilt demonstrates our commitment to helping customers monetise their edge cloud infrastructure with a solution that improves the quality of service and reliability.
“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,” said Jonathan Davidson.
Qwilt Chief Executive Officer and Cofounder Alon Maor said this investment signals an inflection point for Qwilt and Cisco to expand upon the company’s shared vision to help service providers use edge computing to deliver digital content experiences from their own networks.
“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,” said Alon Maor,
Alon Maor also said the Qwilt-Cisco open caching partnership “will be presented in any strategic offering that Cisco may make to any service provider worldwide.
