Start-Up Raises $200 Million to Simplify Data Processing

By StartUp City | Tuesday, July 09, 2019

Fungible will be able to revolutionize the world of data center infrastructures with management.

FREMONT, CA: Fungible, a Silicon Valley startup that help the data centers to ease the massive amount of data produced by technologies, has raised $200 million Series C funding led by SoftBank  Vision Fund. Participation included existing investors from Norwest Venture Partners as well.

In addition to the raising, Deep Nishar, Senior Manager partner of SoftBank Investment Advisers will join the board of directors.

From the inception in 2015 to date, Fungible with 200 employees now raised over $300 million from venture capitalist and investors including, Battery Ventures, Mayfield Fund, Redline Capital and Walden Riverwood Ventures. The Series C funding will be used to expand and accelerates product development.

Pradeep Sindhu and Bertrand Serlet Silicon Valley veterans, founders of Fungible, quoted that, the company will release information regarding the data processing unit that will be available later the year. Sindhu is known as the founder of Juniper Networks, worked as CTO and CEO   and now plays the role of chief scientist.

Serlet, prior to Fungible has held roles of senior software engineer at APPLE and is the founder of a storage startup. Sindhu and Serlet relate Fungible as a pivoting data center from a computer-centric to data centric one.

“As the global data explosion and AI revolution unfold, global computing, storage and networking infrastructure are undergoing a fundamental transformation. Fungible’s products enable data centers to leverage their existing hardware infrastructure and benefit from these new technology paradigms,” stated Deep Nishar, Senior Managing Partner at SoftBank Investment Advisers.

“We look forward to partnering with the company’s visionary and accomplished management team as they power the next generation of data centers,” stated Nishar.

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