Insight Partners Leads a $70 Million Series B Investment in Ably Real-Time

July 2, 2021

Willkie represented Insight in connection with the investment.

On June 30, Ably Real-Time Ltd announced the closing of a $70 million funding round co-led by Insight Partners and Dawn Capital LLP. Existing investors Triple Point, Digital Horizon, Forward Partners, and MMC, also participated in the funding round.

Ably is a platform that powers synchronized digital experiences in realtime, whether it be virtual events, news and financial information, or connected IoT devices. Ably provides a suite of APIs to build, extend, and deliver powerful event-driven applications. Organizations depend on Ably to offload the growing complexity of business critical realtime data synchronization so they can grow revenue and market share.

The investment will accelerate Ably’s growth and continued platform innovation to provide organizations with a comprehensive solution to offload the growing complexity of realtime data synchronization at scale for distributed applications, devices, and hybrid cloud environments. Ably currently reaches 250 million devices per month and serves 500 customers across 80 countries, the funding will support Ably’s plans to strengthen its core UK team and grow a strong US presence over the next 15 months, putting it on track to reach one billion devices per month by 2023.

Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments.

The Willkie team was led by partners Philip Coletto and Matthew Guercio and included partner Spencer Simon and associates Julian Grant, Nidhi Modani and Dan Werb.