Momento Raises $15M to Accelerate Hyperscale AI Products
Summary
SEATTLE, July 18, 2024 (GLOBE NEWSWIRE) -- , 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. Your engineers need a rocketship thats 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. Were 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. 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 companys growth. 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.