Data platform Ably raises £5.7m to expand operations
London data streaming platform Ably has raised £5.7m in funding to further expand the fast-growing company.
The funding, secured in a round led by MMC Ventures and Forward Partners, follows the company’s 150% growth in the past year.
The firm, co-founded by software engineers Matthew O’Riordan and Dr Paddy Byers in 2013, was launched in 2016 and now offers its real-time messaging services infrastructure to brands including HubSpot, Tennis Australia and two of the largest car manufactures.
Its technology is used in the processing of instant messaging, transit updates and, in the case of Tennis Australia, its online scoring and commentary.
The funding will be used to build more features for developers to further integrate into other event-driven platforms and support more open protocols.
O’Riordan, CEO of the firm, 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.
Dan Bailey, Principal at MMC Ventures, added: “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.”