Ably raises $70M in a Series B round co-led by Insight Partners and Dawn Capital

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Insight Partners and Dawn Capital LLP led a $70 million Series B investment for Ably. The additional funds will be utilized to continue expanding and innovating its platform and providing businesses with a complete solution. Ably now employs 65 people, with plans to add another 125 in the next 15 months to supplement its core UK workforce and grow its strong US presence.

Ably, a synchronized digital experience platform provider has announced that it has raised $70 million in a Series B funding round led by Insight Partners and Dawn Capital LLP. Other participants include Digital Horizon, Forward Partners, and MMC Ventures, Triple Point.  

The new funds will help Ably continue developing and innovating its platform, giving businesses a comprehensive solution for offloading the rising complexity of real-time data synchronization at scale for distributed applications, devices, and hybrid cloud environments.

Many digital experiences rely on real-time data, whether it’s virtual events, news, financial data, or linked IoT devices. Real-time data accounts for only a tiny portion of today’s data consumption, but it is expected to account for 30% of all global data by 2025. 

However, developing real-time synchronization capabilities in-house is difficult and expensive. Ably makes this easy; it’s the go-to platform for developers at businesses of all kinds, allowing companies like Bloomberg, HubSpot, Hopin, Verizon, and Tennis Australia to provide users with real-time experiences.

“When we launched Ably five years ago, we had a clear vision that real-time interactions would underpin rather than just augment our everyday digital experiences. Today, our most important daily and digital experiences happen in real-time. It’s business-critical now, and organizations realize they must keep up and transform to remain relevant. 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 real-time at speed and at scale.”

Matthew O’Riordan, CEO and co-founder of Ably, said in a press release

“Insight has an established track record of investing in industry disruptors, and Ably is a natural fit for our portfolio. Ably has demonstrated it is a visionary when it comes to solving the challenges of synchronizing digital experiences in real-time. The company is already the market leader and is primed for further growth in what we believe is an untapped market.” 

Teddie Wardi, managing director at Insight Partners

“We all live our lives in real-time. And now, we expect our digital lives to reflect this – whether tracking parcels, gaming with friends, querying inventory, or updating business-critical infrastructure. As the infrastructure and platform powering these experiences, Ably is helping companies operate in real-time. I’m both hugely impressed by what Ably has achieved to date and excited to be supporting the team to innovate and scale further.”

Norman Fiore, general partner and co-founder at Dawn Capital

Ably now reaches 250 million devices and 500 consumers each month across 80 countries. Ably presently employs 65 people, with ambitions to hire another 125 employees over the next 15 months to enhance its core UK team and expand its strong US presence.

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