diff --git a/packages/backend-defaults/package.json b/packages/backend-defaults/package.json
index 273689991e..8ec7b956fb 100644
--- a/packages/backend-defaults/package.json
+++ b/packages/backend-defaults/package.json
@@ -134,7 +134,7 @@
     "@backstage/plugin-permission-node": "workspace:^",
     "@backstage/types": "workspace:^",
     "@google-cloud/storage": "^7.0.0",
-    "@keyv/memcache": "^1.3.5",
+    "@keyv/memcache": "^2.0.1",
     "@keyv/redis": "^4.0.1",
     "@manypkg/get-packages": "^1.1.3",
     "@octokit/rest": "^19.0.3",
diff --git a/packages/backend-test-utils/package.json b/packages/backend-test-utils/package.json
index 956d7e8212..07594148aa 100644
--- a/packages/backend-test-utils/package.json
+++ b/packages/backend-test-utils/package.json
@@ -53,7 +53,7 @@
     "@backstage/plugin-auth-node": "workspace:^",
     "@backstage/plugin-events-node": "workspace:^",
     "@backstage/types": "workspace:^",
-    "@keyv/memcache": "^1.3.5",
+    "@keyv/memcache": "^2.0.1",
     "@keyv/redis": "^4.0.1",
     "@types/express": "^4.17.6",
     "@types/express-serve-static-core": "^4.17.5",
@@ -63,7 +63,7 @@
     "cookie": "^0.7.0",
     "express": "^4.17.1",
     "fs-extra": "^11.0.0",
-    "keyv": "^4.5.2",
+    "keyv": "^5.2.1",
     "knex": "^3.0.0",
     "mysql2": "^3.0.0",
     "pg": "^8.11.3",
diff --git a/yarn.lock b/yarn.lock
index d162e93319..178e2bbac9 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -3600,7 +3600,7 @@ __metadata:
     "@backstage/plugin-permission-node": "workspace:^"
     "@backstage/types": "workspace:^"
     "@google-cloud/storage": ^7.0.0
-    "@keyv/memcache": ^1.3.5
+    "@keyv/memcache": ^2.0.1
     "@keyv/redis": ^4.0.1
     "@manypkg/get-packages": ^1.1.3
     "@octokit/rest": ^19.0.3
@@ -3773,7 +3773,7 @@ __metadata:
     "@backstage/plugin-auth-node": "workspace:^"
     "@backstage/plugin-events-node": "workspace:^"
     "@backstage/types": "workspace:^"
-    "@keyv/memcache": ^1.3.5
+    "@keyv/memcache": ^2.0.1
     "@keyv/redis": ^4.0.1
     "@types/express": ^4.17.6
     "@types/express-serve-static-core": ^4.17.5
@@ -3784,7 +3784,7 @@ __metadata:
     cookie: ^0.7.0
     express: ^4.17.1
     fs-extra: ^11.0.0
-    keyv: ^4.5.2
+    keyv: ^5.2.1
     knex: ^3.0.0
     mysql2: ^3.0.0
     pg: ^8.11.3
@@ -10768,6 +10768,17 @@ __metadata:
   languageName: node
   linkType: hard
 
+"@keyv/memcache@npm:^2.0.1":
+  version: 2.0.1
+  resolution: "@keyv/memcache@npm:2.0.1"
+  dependencies:
+    "@keyv/serialize": "*"
+    buffer: ^6.0.3
+    memjs: ^1.3.2
+  checksum: 357b320fb3998e7bff9e3a5702da3cc0d4337586f1a04392dfb490cef7af2c039c3ecda922b18029cc9de6e9310a91cde1602b0851fb86acb93b629200458cc2
+  languageName: node
+  linkType: hard
+
 "@keyv/redis@npm:^2.5.3":
   version: 2.8.5
   resolution: "@keyv/redis@npm:2.8.5"
@@ -33911,10 +33922,10 @@ __metadata:
   languageName: node
   linkType: hard
 
-"memjs@npm:^1.3.1":
-  version: 1.3.1
-  resolution: "memjs@npm:1.3.1"
-  checksum: cb70879055151f15292e95ab57765e745c84d2fedd363b453afc3e2f48bf185e3771eecf9544f95009a3a374e810e34c1e18948134e814d791c2f0f35359ddeb
+"memjs@npm:^1.3.1, memjs@npm:^1.3.2":
+  version: 1.3.2
+  resolution: "memjs@npm:1.3.2"
+  checksum: f92c2a43725b70af69832f807d02b87a07609a1c1f2c8c37670dff5bae6ac5f0d767cc8b3a6a59626703538f96c0bd4f03f9d00ea3b28aeb33270d24e8782233
   languageName: node
   linkType: hard