Ably raises $70 million for its developer platform that enables realtime features

Ably is a Pub/Sub messaging platform that companies can use to develop realtime features in their products. The company just raised a $70 million Series B funding round co-led by Insight Partners and Dawn Capital.

Every day, you use various apps that push and fetch data in realtime. When you send a message in your favorite chat app, when you edit a document collaboratively, when you start a video call or when you look at financial data, you expect to send and receive stuff in a fraction of a second. It should feel instantaneous otherwise it feels broken.

A popular system that lets you create realtime features is called Pub/Sub, as in publish-subscribe. As the name suggests, with that model, users publish and receive data through the same channel. Users who want to receive data in realtime establish a realtime connection saying that they want to receive new messages that are routed through that channel.

Whenever someone publishes a new message, the message is routed to subscribers as quickly as possible — ideally, the message arrives in a fraction of a second. Push notifications on your smartphone follow more or less the same logic, except that they eventually go through Google’s and Apple’s push notification services.

There are several realtime platform-as-a-service providers out there, including services developed by Amazon Web Services and Google Cloud. And yet, Ably thinks it has the best technology platform out there and can build a large, standalone realtime API-based startup.

Existing investors Triple Point, (Read more...)