Data Startup Fungible Closes on $200 Million Funding Round

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Fungible, a Santa Clara based startup which specializes in data-centric computing, announced it netted $200 million in Series C funding.

SoftBank Vision Fund led this round, with Norwest Venture Partners, Battery Ventures, Redline Capital, Mayfield Fund and Walden Riverwood Ventures contributing. Fungible has raised over $300 million to date.

The company plans to use the financing to accelerate the company’s product development and grow sales and marketing efforts.

Fungible was launched by Pradeep Sindhu and Bertrand Serlet, two veterans of the Silicon Valley tech scene. Sindhu previously founded Juniper Networks, while Serlet founded a storage startup before he was SVP of software engineering at Apple.

“Our vision is to provide such dramatic improvements to the performance, reliability and economics of data centers that applications previously unimaginable become possible,” said Pradeep Sindhu, co-founder and CEO of Fungible, in a statement.

The center piece of Fungible is it’s Data Processing Unit, which enables an order of magnitude improvement in the execution of data-centric workloads. The DPU can be deployed in data centers at all scales and geographies, placing Fungible in a strong position to capture a significant portion of the data center infrastructure market.

As part of the this funding round, Deep Nishar, Senior Managing Partner at SoftBank Investment Advisors, will join Fungible’s board of directors.