MemoryFunction is a strain of adware that affects Mac systems. It belongs to the broader family of AdLoad adware clones.
MemoryFunction has a lot in common with the hundreds of AdLoad clones that share its gene pool. All those applications use the same icon - a plain, generic-looking grey circle with a white looking glass image inside it. All of them also share the same naming convention - two semi-random words mashed together to form something that is hopefully not complete nonsense.
Other variants of what is essentially the same adware have been distributed under the names AuraLookup, IndexerSource, ExpressionCargo and CompellingEntry, to name a few. It's plain to see that some of the names make no sense, but that's how the adware is distributed anyway.
MemoryFunction will display intrusive and potentially harmful ads on your Mac. The ads displayed by most adware applications are sourced from rogue advertising networks. This means a lot of them can link to misleading pages, malicious sites, questionable content and potentially unwanted applications.
This makes the presence of any type of adware on your Mac undesirable and you should take care to get rid of adware apps as quickly as possible to minimize your exposure to similar potentially harmful ads.