5 Things We Learned at Our Cloud-Native Dinner
Last month, Bessemer Venture Partners hosted a cloud native infrastructure dinner with Boldstart Ventures, bringing together next generation startups and forward thinking enterprises across the burgeoning NYC enterprise tech community. We were thrilled by the productive conversations we heard as we passed bread and best practices around the table, and wanted to share some of the most telling lessons learned around microservices, serverless, and the future of cloud-native infrastructure:
1. Enterprises are being strategic about their order of operations in digital transformation. While some companies are adopting containers and serverless in parallel, others see a clear progression from one to another. Munu Gandhi, VP of Core Infrastructure Services at Aon, explains: “Serverless is a platform that is on our roadmap, however we are moving to containers as an initial step to modernize our applications and platforms. Containers enable us to begin transforming our organization and move towards devops and agile.”
2. A handful of the largest enterprises, particularly financial institutions, now think of themselves as software-first organizations. "There is a massive opportunity for increasing developer productivity and cost savings by applying cloud-native best practices to our private clouds" said Dean Mazboudi, MD at Bank of America.
3. Culture is one of the biggest challenges around re-platforming. Teams are trying to figure out how to shift from slow, monolithic release cycles to rapid deployment and continuous delivery. One such solution is to turn to companies such as Pivotal, which help organizations standardize on a single platform and allow java engineers to deliver on a new stack.
4. Enterprises migrating from on-prem to the cloud are thinking about monitoring and security first. Ranji Narine, VP of Product Engineering Information and Tech Systems at Scotiabank, explains they “are heavily focused on managing runtime security and having operational visibility over their increasingly complex mixed infrastructure (on-prem, private cloud, and public cloud)." This falls in line with the cluster of companies we’ve seen pop up over the past 24 months focused exclusively on either monitoring or security.
5. Savings from compute costs are being allocated for operational tooling. One of the biggest draws to serverless infrastructure is the cost savings and even with some of the savings spent on tools, overall spend is still less than prior processes. Jeffrey Hunter, CTO of Barstool Sports explains, “Our current infrastructure is 20x less expensive with lambda and supporting tools. We’re paying more for monitoring then for the lambda compute itself.”