Momento launches serverless cache without theft • TechCrunch

After working at NASA’s rover robotics, Khawaja Shams made something of a career move by joining AWS to collaborate with engineer Daniela Miao on DynamoDB, a fully managed NoSQL database service. Not content to stop there, Shams and Miao left AWS to found Momenton, a Seattle-based startup that’s launching a stealth “serverless cache” optimized for cloud computing today.

What is serverless caching, you ask? Well, Shams describes it as a “highly available” cache that delivers commonly used data to applications and databases quickly. The Momento platform says it will allow developers to add cache to a cloud stack around five lines, accelerating databases running in public clouds like Amazon Web Services or Google Cloud.

“Legacy cache providers offer a different model that requires customers to provision and pay for their maximum capacity. These immutable services are very inefficient, expensive, require a lot of work to configure, and don’t scale easily,” Shams told TechCrunch in an email interview. It allows them to provide a secure cache that can handle API calls.”

Shams old caching services were complex and inefficient, forcing engineering teams to waste time using too many configurations. What’s more, because they don’t scale automatically, they require engineers to provision for high usage – leading to wasted costs.

In contrast, Momento handles load spikes when unloading a configuration. The platform automatically optimizes, scales and manages caches, as well as supports end-to-end encryption of caches and audit logging.

Image Credits: time

“Cloud computing has made it easier than ever for customers to quickly provision resources. Unfortunately, in recent years, customers have run out of capacity in the growth-oriented stages and are struggling with large bills from their cloud providers,” Shams said. It’s helping them improve one another.”

Until Shams, cloud costs increased for some enterprises as digital transformation efforts accelerated during the pandemic. A 2022 study from analytics platform Anodot found that nearly half of businesses (49%) are struggling to control their cloud spending. According to a separate poll by Flexera, more than 50% of companies spend more than $2.4 million annually on the public cloud.

Momento says it has closed “several six-figure deals,” including with clients. CBS, NTT Docomo and smart home company Wyze Labs. The startup has received early votes of confidence from VCs, including Bain Capital Ventures, which led Momento’s $15 million seed round that closed this week. The general partnership involved Flickr CEO Don MacAskill, former Mozilla CEO John Lilly and other angels.

Shams said the funding will be used to expand Momento’s 25-employee engineering team, build a “full-cycle” go-to-market team, enhance Momento’s platform and support additional public clouds.

“Due to the recent economic downturn, organizations are actively looking for cost savings and efficiencies. Caching tends to be among the top line items in their cloud accounts, and Momento’s ability to save their cache is attractive,” said Shams.

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