6th Apr 2020

MMC leads $7m Series A for data streaming platform, Ably

Ably, has announced its Series A funding round, led by MMC alongside our friends at Forward Partners. Building on the successful delivery of 1.5 trillion messages, Ably will use this funding to scale, as demand for real-time around the world escalates.

Consumers expect real-time live experiences as the norm - including instant messaging, transit updates, and live scores - but they take significant background engineering complexity to deliver, especially at scale. Ably provides cloud infrastructure and APIs that empower developers to overcome these complexities and deliver rich, live experiences to their users.

Large enterprises and high-growth tech companies choose Ably to offload the technical and operational burden required to deliver globally-available real-time messaging services. Some of the things Ably powers include HubSpot's live chat solution, in-play scores for millions of Australian Open fans, and real-time transit updates for three million Chicagoans.

Matthew O’Riordan, CEO & Co-Founder, Ably said: This is a significant milestone for Ably, as it enables us to deliver on our mission - that is, to provide the real-time infrastructure needed by developers to deliver live experiences to their customers.

Consumers today expect their digital experiences to be real-time, yet it can be incredibly difficult for developers to deliver that. Ably solves that problem by providing simple APIs that developers can depend on, so that they can get on with building their apps and services. We are on course to deliver real-time app-based experiences to a billion people each month.

This funding allows us to really ramp investment in the platform and build more features that we know developers need to further integrate into other event-driven platforms and support more open protocols.”

Market intelligence firm, International Data Corporation (IDC), predicts that - as global connectivity grows - by 2025, one third of all data produced globally will be real-time. Each month Ably streams over 100 billion messages to 50 million end-users across smartphones, embedded devices and browsers.

Dan Bailey, Principal at MMC Ventures, said: The production of real-time data is rapidly expanding and consumer expectations of real-time experiences are growing ever more demanding. Developers wanting to build real time products at scale have been poorly served by existing products that require compromises between scale, reliability and consistency.

Ably has made a series of architectural choices that enable them to deliver greater reliability and integrity at scale, which enables their customers to build better experiences for their users. Matt and the team have a compelling vision for the future of real-time data and integration, and we look forward to supporting them as they build a transformative business.

Read more on the story via Tech.eu, UKTN and EU Startups.

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