London-based Push Technology has announced a £10 million Series A round led by Glasgow-based Maven Capital Partners, with support from Guinness Asset Management and Stephen Capital.
The UK company’s main product, Diffusion, is an API management platform that “combines pub/sub, request response, and time series in a single unified SDK.” Basically the platform securely streams real-time data from all data sources, which can be implemented in mobile apps and IoT. Because updates are only sent when data changes, Push claims the platform reduces the cost of bandwidth usage.
Alluding to the good fortune of securing a funding round amid global economic uncertainty, CEO Sean Bowen said, “We are in the enviable position of serving the rapidly expanding market for real-time web, mobile and IoT communications.”
The Series A investment will go toward product development, sales and marketing. Maven’s investment director, Andrew Symmonds, and Guinness Asset’s investment manager, Ashley Abrahams, will join the company’s board.