Ably rasies $70 million Series B to power synchronised digital experiences in realtime
We're thrilled to be doubling down on Matt, Paddy and the rest of the impressive Ably team as they announced their $70 million Series B funding round led by new investors Insight Partners and Dawn Capital.
Data consumed in realtime powers many digital experiences, whether it be virtual events, news and financial information, or connected IoT devices. Realtime data is only a fraction of the data consumed today, but by 2025 it is estimated that it will be 30% of all global data. However, building homegrown realtime synchronization capabilities is complex and costly. Ably simplifies this; it is the de facto platform for developers at organizations of all sizes, empowering the likes of Bloomberg, HubSpot, Hopin, Verizon, and Tennis Australia to deliver realtime experiences to their users.
“When we launched Ably five years ago, we had a clear vision that realtime interactions would underpin rather than just augment our everyday digital experiences. Today, our most important daily and digital experiences happen in realtime. It’s business critical now, and organizations realize they must keep up and transform to remain relevant. Matthew O’Riordan, CEO and Co-founder of Ably. Yet, at the same time, most don’t have the in-house capabilities nor the time to do this efficiently at scale. Early on we made technology decisions to provide a global edge network engineered for efficiency, reliability, and ease of use. In the same way that content delivery networks underpin large parts of the internet, Ably is the invisible platform and infrastructure layer that powers synchronized digital experiences in realtime at speed and at scale.”
The funding will support and accelerate Ably’s growth and continued platform innovation. This is to provide organizations with a comprehensive solution to offload the growing complexity of realtime data synchronization at scale for distributed applications, devices, and hybrid cloud environments. Ably currently reaches 250 million devices and serves 500 customers across 80 countries per month.
Ably currently employs 65 people; it plans to add a further 125 hires to strengthen its core UK team and grow a strong US presence over the next 15 months. Keep an eye on the MMC jobs board for listings.
Read more on Ably's fundraise via TechCrunch.