Momento, the real-time data platform founded by the engineering team that built DynamoDB, is announcing the completion of its Series A funding round led by Bain Capital Ventures, having raised $15 million. Emboldened by its mission to both streamline and increase the efficacy of developers, Momento’s funding will enable the company to continue to deliver hassle-free infrastructure at a global scale. This release also announces the GA of Momento Topics, a massively scalable pub/sub messaging service optimized for real-time, many-to-many communication, according to the vendor.
At the core of Momento is empowering developers to overcome the complexities of legacy cloud infrastructures, delivering a variety of cloud primitives including cache, storage, and pub/sub. Each of these primitives allow developers to safely and reliably serve a massive global audience with ease.
Momento’s primitives incorporate best practices for performance, cost, scale, and availability, abstracting these concerns from the development process so that developers can focus on the critical application components that matter most, according to the vendor. As a result of the company’s recent funding, Momento will accelerate enterprise sales, expand the platform’s feature set, and focus on serving new AI workloads.
“Databases and caches are changing; the demands are different…As we move away from legacy to modern architectures, there's existing primitives that can run on an on-prem server, you can just deploy on EC2, and you can build managed services around it. Those got us by between 2010 and 2020, but for this decade, you need something that is built for the cloud—that is built with the end developer and the end-to-end productivity of that developer in mind,” said Khawaja Shams, co-founder and CEO of Momento.
Momento’s value prop is especially relevant due to the proliferation of AI, where developers are overburdened with a need to ship out new, intelligent applications and features, and ship them out fast. More interactive experiences are being created now more than ever, which directly results in a need for faster infrastructure and real time data, according to Shams.
“Gone are the days when the Uber Eats and the DoorDashes of the world were giving you recommendations based on historical data. They want to give you recommendations based on what people are ordering right now—that appetite for real-time data is stronger than ever,” explained Shams. “What Momento does is it makes it really easy, sustainable, and scalable for people to handle more real-time data and to build better experiences. Momento is offering the core infrastructure that makes AI-enabled applications get to market faster and to iterate faster.”
In addition to Momento’s Series A funding announcement, Momento Topics is now in GA, empowering developers to build live applications that deliver instant updates to millions of users. Leveraged by half of Momento’s customers—including major video streaming platforms and AAA gaming studios—Momento Topics offers the following capabilities:
- Reliable, low-latency event bus equipped to deal with massive bursts in traffic
- Rich security feature set including authentication, access control, and encryption
- Intelligent control plane for efficiently managing resources and eliminating downtime
“We realized that everybody wants to be able to alert the user of something that is happening, whether it's a message that a friend has sent them, or an update in the world…or whatever it might be, but it takes too long. You have to go wrangle web sockets; you have to put up a web server; you have to set up a caching fleet; you have to add redundancy; you have to instrument each one of these individual components individually,” noted Shams. “We realized that instead of our developers doing that—the same customers are using the cache—we could make it so easy that they can build a multi-million user notification system in a matter of an afternoon.”
To learn more about Momento, please visit https://www.gomomento.com/.