Momento launches out of stealth with a serverless cache • TechCrunch

Just after performing at NASA as a rover roboticist, Khawaja Shams underwent anything of a career pivot, joining AWS to staff up with engineer Daniela Miao on DynamoDB, a entirely managed NoSQL database company. Not written content to stop there, Shams and Miao left AWS to co-identified Momento, a Seattle-centered startup which is nowadays rising from stealth with a “serverless cache” optimized for cloud computing.

What’s a serverless cache, you talk to? Well, Shams describes it as an elastic, “highly available” cache that delivers commonly applied facts to applications and databases faster. He claims that Momento’s system allows developers add a cache to their cloud stack with all around five strains of code, accelerating databases that run in public clouds this kind of as Amazon Web Providers or Google Cloud.

“Legacy caching companies present a unique design that demands prospects to provision and shell out for their peak capacity. These inelastic solutions are really inefficient, high-priced, involve a whole lot of perform to get right, and basically do not scale,” Shams instructed TechCrunch in an e-mail job interview. “Momento lets prospects to provision a protected cache, able of managing tens of millions of transactions for each next, with a one API get in touch with.”

Shams helps make the scenario that legacy caching products and services are intricate and inefficient, forcing engineering groups to waste time tinkering all over with way too many configurations. What’s more, he claims, simply because they really do not immediately scale, they call for engineers to provision for peak utilization — leading to wasteful paying out.

By distinction, Momento handles load spikes though abstracting away configuration. The system immediately optimizes, scales and manages caches, also securing caches with conclusion-to-conclude encryption and audit log guidance.

Picture Credits: Momento

“Cloud computing produced it much easier than at any time for shoppers to rapidly provision resources. Sadly, for the duration of the growth-targeted phases in the new many years, shoppers have finished up massively above-provisioning capacity and are having difficulties with significant payments from their cloud providers,” Shams explained. “Momento is supporting shoppers enhance 1 of the top line merchandise on their cloud bills.”

To Shams’ level, cloud charges for some enterprises skyrocketed all through the pandemic as digital transformation attempts accelerated. A 2022 study from Anodot, an analytics platform, shows that nearly half of organizations (49%) are obtaining it difficult to get their cloud prices underneath management. According to a separate poll by Flexera, extra than 50% of firms now expend above $2.4 million on the public cloud each and every yr.

Momento statements to have shut “multiple six-figure deals” with clients together with CBS, NTT Docomo and clever residence organization Wyze Labs. The startup bought an early vote of confidence from VCs together with Bain Funds Ventures, which led Momento’s $15 million seed funding round that shut this 7 days. The Standard Partnership participated together with Flickr CEO Don MacAskill, former Mozilla CEO John Lilly and other angels. 

Shams suggests that the funding will be employed to grow 25-staff Momento’s engineering staff, build a “full-cycle” go-to-current market staff, improve the Momento platform and insert guidance for more public clouds.

“Due to the latest financial downturn, companies are actively seeking value cost savings and effectiveness. Caching tends to be among the the top rated line merchandise on their cloud costs, and Momento’s capacity to help you save on their caching is appealing,” Shams claimed.