Qwilt Gets $24M Boost From Tech Investors

Law360, New York (October 20, 2011, 3:07 PM EDT) -- Qwilt Inc., a Silicon Valley startup that develops video management systems for Internet carriers, has raised $24 million in two rounds of funding from investors including Accel Partners, Redpoint Ventures and Crescent Point Group, the company said Wednesday.

Qwilt will use the new investments for product development and hiring sales and engineering staff, according to a spokeswoman.

The company, founded and staffed by former Cisco Systems Inc. and Juniper Networks Inc. employees, has products testing with several Internet service providers, cable companies and mobile carriers designed...
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