Startup Ably has raised $7m to scale up its real-time data streaming platform, which facilitates the flow of data between internet-connected devices in milliseconds.
Founded in 2013, Ably provides Infrastructure-as-a-Service (IaaS) and APIs that supports real-time engineering applications such as live chats and live geolocation IoT sensors.
The Series A funding round was led by investor firm MWC Ventures. Venture fund and startup studio Forward Partners co-invested in the round.
London-based Ably claims its technology delivers 100 billion messages per month. It intends to use the $7m cash injection to expand operations to meet the growing demand for real-time services.
Ably provides the underlying software and cloud infrastructure for enterprises to build their applications on top of.
It counts SaaS vendor HubSpot and eLearning firms Lightspeed Systems and MobyMax among its customers.
Ably’s technology supports the real-time transit updates for three million Chicago residents, including the cities 300,000 metro users.
Ably funding to support new features
“Consumers today expect their digital experiences to be real-time, yet it can be incredibly difficult for developers to deliver that,” said Matthew O’Riordan, CEO & co-founder, Ably.
“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.”
He added: “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, 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.”