SEATTLE, July 18, 2024 (GLOBE NEWSWIRE) -- Momento, the real-time data platform founded by the engineering team that built DynamoDB, today announced it raised $15 million in a Series A round led by Bain Capital Ventures to expand on its vision of powerful, hassle-free infrastructure for interactive experiences at global scale.
At a time when users demand more capable, trustworthy products, developers can no longer afford the cumbersome complexities of legacy cloud infrastructure. Momento delivers robust cloud primitives like cache, storage, and pub/sub that empower developers to safely and reliably serve a massive global audience. In the race to ship new AI features, Momento accelerates growth at critical moments through intelligent resource management that efficiently eliminates risks and downtime.
“The AI revolution requires enterprises to move faster than ever, which leaves them with even less time to build, harden, and operate their infrastructure,” said Daniela Miao, co-founder and CTO of Momento. “Shipping better products faster than everyone else is now table stakes for survival. Your engineers need a rocketship that's ready to fly, now.”
Founded in 2021, Momento now serves a global customer base that includes CBS, Wyze, ProSieben, NTT DOCOMO, Paramount, and Taco Bell. This year, Momento was named in both Redpoint Ventures' InfraRed 100 list and Menlo Ventures' Modern AI Stack, reflecting how customers have relied on Momento to power new AI-enabled products as diverse as automated remarketing or agricultural IoT.
“Momento is on a mission to help enterprises ship faster than ever! We're thrilled to have Bain Capital Ventures and The General Partnership, our visionary investors, double down on their commitment to our mission,” said Khawaja Shams, co-founder and CEO of Momento. "Our platform has a proven track record of accelerating mission-critical hyperscale applications for industry leaders in Gaming, M&E, FinTech, and more. This investment will allow us to expand enterprise support and solidify our go-to-market motion.”
Returning investors Bain Capital Ventures and The General Partnership pre-empted the latest round, a sign of confidence in the company's growth. Additional angel investors include Marianna Tessel (EVP and General Manager at Intuit), Neha Narkhede (co-founder of Confluent), Tom Killalea (first CISO of Amazon), Don MacAskill (CEO of Flickr/SmugMug), and John Lilly (former CEO of Mozilla). Momento plans to use the funding to accelerate enterprise sales and to expand the platform's feature set, with a focus on supporting new AI workloads.
“Momento is on the leading-edge of a massive opportunity: simplifying real-time architecture at enterprise scale,” said Aaref Hilaly, partner at Bain Capital Ventures. “The companies that make it cost effective and easy to build and operate in the cloud will win in today’s rapidly changing business environment, and Momento has the right team and technology in place to meet this moment.”
Momento Topics Now Generally Available
Momento Topics is a pub/sub messaging service optimized for real-time many-to-many communication at global scale. With unparalleled security and scalability, Momento Topics enables developers to build robust live applications that deliver instant updates to millions of users. Notable capabilities include:
- Reliable low-latency event bus capable of handling massive bursts in traffic
- Rich feature set including authentication, access control, and encryption
- Intelligent control plane efficiently manages resources to eliminate downtime
Momento Topics is in use by half of Momento’s customers, including major video streaming platforms and AAA gaming studios. Momento Topics' simple yet powerful model for message delivery has enabled customers to rapidly deploy and scale interactive chat agents that integrate with leading public LLMs like ChatGPT, or to process surges of real-time events that feed into their own proprietary decision models.
“Directly managing low-level technologies like Redis clusters or WebSockets is a costly distraction for our engineers, especially when the industry is evolving faster than ever,” said Yoshikazu Akinaga, CEO of DOCOMO Innovations. “With Momento Cache and Topics, we can confidently deploy a simpler architecture that scales even more reliably. In the end, Momento frees up time for us to develop the new products that make us successful.”
Supporting Resources
- Blog: Announcing Momento's Series A and the General Availability of Topics
- Momento website
- Momento on X
- Momento on LinkedIn
About Momento
Momento makes real-time data infrastructure easy at enterprise scale. The Momento platform is fully-managed and built for scale, with a streamlined development and operational experience. These simple, robust, enterprise-grade services eliminate the boilerplate and busywork, empowering developers to build innovative products faster and more reliably than ever before. Momento is a fully-remote team of distributed systems experts who built DynamoDB, as well as other large-scale, mission critical systems at Amazon, GitHub, Intuit, Valve, and other hyperscale tech companies. For more information, visit https://www.gomomento.com/.
Contact
Shannon Campbell
PR for Momento
momento@offleashpr.com
