Momento, a real-time data platform founded by the engineering team that built DynamoDB, announced it raised $15 million in a Series A round led by Bain Capital Ventures to expand on its vision of hassle-free infrastructure for interactive experiences at a global scale. Existing investors Bain Capital Ventures and The General Partnership pre-empted the latest round, a sign of confidence in the company’s growth. And 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).
When users demand more capable and trustworthy products, developers can no longer afford the complexities of legacy cloud infrastructure. Momento delivers sophisticated cloud primitives such as cache, storage, and pub/sub that enable developers to safely and reliably serve a massive global audience. In the race to ship new AI features, Momento accelerates growth through intelligent resource management that efficiently eliminates risks and downtime.
Launched in 2021, Momento now serves a global customer base that includes CBS, Wyze, ProSieben, NTT DOCOMO, Paramount, and Taco Bell. Momento’s customers have depended on the company to power new AI-enabled products as diverse as automated remarketing or agricultural IoT.
Momento plans to use this funding round to accelerate enterprise sales and to expand the platform’s feature set, with a focus on supporting new AI workloads.
Momento Topics
Momento Topics is now generally available: Momento Topics is a pub/sub messaging service optimized for real-time many-to-many communication at global scale. And with unparalleled security and scalability, Momento Topics enables developers to build robust live applications that deliver instant updates to millions of users. Some of the notable features 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 now in use by half of Momento’s customers, including major video streaming platforms and AAA gaming studios. And Momento Topics’ 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.
KEY QUOTES:
“The AI revolution requires enterprises to move faster than ever, which leaves them with even less time to build, harden, and operate their infrastructure. Shipping better products faster than everyone else is now table stakes for survival. Your engineers need a rocketship that’s ready to fly, now.”
– Daniela Miao, co-founder and CTO of Momento
“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. 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.”
– Khawaja Shams, co-founder and CEO of Momento
“Momento is on the leading-edge of a massive opportunity: simplifying real-time architecture at enterprise scale. 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.”
– Aaref Hilaly, partner at Bain Capital Ventures
“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. 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.”
– Yoshikazu Akinaga, CEO of DOCOMO Innovations
