Memphis.dev, a Palo Alto, CA, and Tel Aviv, Israel-based event streaming innovator introduced Memphis Cloud and announced it has secured $5.5 million in seed funding.
The round was co-led by Angular Ventures and boldstart ventures, with participation from JFrog co-founder and CTO Fred Simon, Snyk co-founder Guy Podjarny, CircleCI CEO Jim Rose, Console.dev co-founder David Mytton, and Priceline CTO Martin Brodbeck.
Memphis Cloud builds on the highly successful Memphis open-source project to enable a full serverless experience for enterprises with added security and new features that provide easy-to-deploy, stateless stream processing at scale.
The Memphis. dev core product is a message broker focused on the storage layer. Memphis Cloud can easily run alongside Kafka, ensuring messages are delivered in order and without any loss, enabling data segregation and control, providing protocol flexibility, and enhancing security.
"The world is asynchronous and built out of events. Message brokers are the engine behind their flow in the modern software architecture, and when we looked at the bigger picture and the role message brokers play, we immediately understood that the modern message broker should be much more intelligent and by far with much less friction," said Yaniv Ben Hemo, co-founder, and CEO, Memphis. "With that insight, we built Memphis.dev which takes five minutes on average for a user to get to production and start building queue-based applications and distributed streaming pipelines."
Company: Strech Technologies Ltd.
Raised: $5.5M
Round: Seed Round
Funding Month: June 2023
Lead Investors: Angular Ventures and boldstart ventures
Additional Investors: Fred Simon, Guy Podjarny, Jim Rose, David Mytton, and Priceline CTO Martin Brodbeck.
Company Website: https://memphis.dev/
Software Category: Event Streaming Platform
About the Company: Founded in 2022, Memphis.dev is an intelligent, frictionless message broker that accelerates the development of real-time applications. Memphis.dev is developed an open-source project called Memphis, which serves as a message broker to help developers build real-time streaming applications. In addition to the open source project, It has also created Memphis Cloud, a Software-as-a-Service (SaaS) offering. Memphis Cloud is targeted at enterprises and includes features such as authentication, permissions, and a serverless experience. The Memphis Cloud is designed to work on multiple platforms, including AWS and Google Cloud Platform. The company is focused on product evolution with a roadmap including support for GitOps, automation enablement, and reconstructing select APIs. Additional focus areas include multi-tenancy, partitions, and read replicas. Memphis.dev is on a mission to build the next-generation alternative to traditional message brokers.
Source: Ronny Hassid