Embodiments of systems, apparatuses and methods provide enhanced function as a service (FaaS) to users, e.g., computer developers and cloud service providers (CSPs). A computing system configured to provide such enhanced FaaS service include one or more controls architectural subsystems, software and orchestration subsystems, network and storage subsystems, and security subsystems. The computing system executes functions in response to events triggered by the users in an execution environment provided by the architectural subsystems, which represent an abstraction of execution management and shield the users from the burden of managing the execution. The software and orchestration subsystems allocate computing resources for the function execution by intelligently spinning up and down containers for function code with decreased instantiation latency and increased execution scalability while maintaining secured execution. Furthermore, the computing system enables customers to pay only when their code gets executed with a granular billing down to millisecond increments.