Data platform raises $7m funding after 150 per cent growth
A London based data streaming platform has raised $7m in funding to scale up its company.
Ably, which focuses on “real time” streaming, has announced that its series A funding round, led by MMC Ventures and Forward Partners, has raised $7m.
The company reported that its it has grown 150 per cent in the past year, and will use the funding to further expand its operations.
It reports that each month it streams more than 100 billion messages to 50 million end-users across smartphones, embedded devices and browsers.
Matthew O’Riordan, CEO & co-founder of Ably, commented: “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.”
Dan Bailey, principal at MMC Ventures, added: “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.”
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