Momento Emerged With $15M, Icertis Got $150M, and More Seattle Tech News

Catch up on the latest local tech news you might have missed last week.
Written by Cassidy Ritter
November 7, 2022Updated: November 7, 2022
Momento co-founders stand for a photo by the beach
Momento was co-founded by Daniela Miao, left, and Khawaja Shams. | Photo: Momento

The Seattle tech scene is showing no signs of slowing down. Last week, one startup launched from stealth, another was acquired by Netflix and others celebrated large venture capital rounds. Catch up on the latest tech news with the Built In Seattle Weekly Refresh.

Icertis got $150M. Used by legal and corporate teams in the retail, healthcare and financial services industries, Icertis offers an automated contract lifecycle management platform. The $150 million round is made up of a credit facility and convertible financing from Silicon Valley Bank. The funds will help Icertis enhance its artificial intelligence-powered CLM solution by adding machine learning and blockchain tech to its product. [Built In Seattle]

Netflix acquired Spry Fox. The local video game developer has launched six titles, including Alphabear 2 and Cozy Grove. Spry Fox’s team will join the streaming giant and help Netflix design more games for all kinds of players. This is Netflix’s sixth gaming studio acquisition since 2021. [Built In Seattle]

Seattle Tech Quote of the Week

“The serverless revolution is radically boosting developer productivity, which has an inspirational impact on the pace of innovation in society. Momento aims to fill the missing pieces in the serverless era and empowers customers by replacing a complex caching stack with a simple abstraction.” — Khawaja Shams, co-founder and CEO of Momento

Momento emerged from stealth with $15M. The Seattle startup offers a serverless cache to accelerate response times and deliver commonly used data faster. It already works with brands like CBS and Wyze Labs. Momento is co-founded by Khawaja Shams who previously led Amazon DynamoDB, which runs Amazon.com and Amazon Video, and Daniela Miao, a former software engineer at Amazon Web Services. The $15 million seed round, led by Bain Capital Ventures, will go toward growing Momento’s engineering and go-to-market teams. [GlobeNewswire]

Five Seattle tech companies raised a collective $133M in October. From fintech and biotech to software and productivity innovations, Seattle tech companies raised venture capital funding last month to further their products and solutions and hire more staff. Pulling in the largest funding rounds last month include Center, Diagrid, Lassen Peak and others. [Built In Seattle]

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