Fungible Inc. was a Santa Clara, California-based data center technology company that designed Data Processing Units (DPUs), a new category of programmable microprocessors purpose-built to accelerate data-centric workloads in cloud and enterprise data centers. The DPU acts as a traffic controller that offloads networking and storage workloads from CPUs and GPUs, enabling composable disaggregated infrastructure in which compute and storage resources can be pooled and dynamically allocated over a high-speed data fabric. Founded in 2015 by Juniper Networks co-founder Pradeep Sindhu and former Apple software engineering SVP Bertrand Serlet, Fungible raised more than $300 million from investors including SoftBank Vision Fund, Mayfield Fund, Walden Riverwood Ventures, Battery Ventures, and Norwest Venture Partners. Microsoft acquired the company in January 2023 to integrate Fungible's DPU technology and team into Azure's data center infrastructure engineering organization.
Fungible has been acquired
This company is no longer available on our private secondary market.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2015
Employees
150–250
Total Funding
$311.5M
3 rounds
Total raised $311.5M across 3 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Last updated 05-21-2026
Latest Round
Type
Series C
Date
June 27, 2019
Amount
$200M
Valuation
—
Lead Investors
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| June 27, 2019 | Series C | $200M | — | SoftBank Vision Fund |
| February 7, 2017 | Series A | $32.5M | — | Mayfield Fund, Walden Riverwood Ventures, Battery Ventures |
| 2017 | Series B | ~$60M | — |
Pradeep Sindhu
Co-Founder & Chairman (former CEO)
Bertrand Serlet
Co-Founder
Eric Hayes
CEO (from July 2021 through Microsoft acquisition)
Jaishankar (Jai) Menon
Chief Scientist
Competitor list is illustrative and may be incomplete, stale, or erroneous.
NVIDIA (Mellanox / BlueField DPU)
NVIDIA's BlueField DPU line (acquired via Mellanox in 2020) is the market-leading DPU platform for cloud and enterprise data centers, offloading networking, storage and security from CPUs.
AMD (Pensando)
AMD's Pensando DPU/SmartNIC business (acquired 2022) provides programmable data-plane processors used by hyperscalers and enterprise infrastructure vendors.
Intel (IPU)
Intel's Infrastructure Processing Unit (IPU) line targets the same hyperscaler offload workloads Fungible's DPU addressed.
Marvell (OCTEON / LiquidIO)
Marvell's OCTEON and LiquidIO smart-NIC and DPU products are entrenched in carrier and enterprise data center networking.
Broadcom (Stingray)
Broadcom's Stingray SmartNIC/DPU platform competes for storage and networking offload workloads in cloud data centers.
Kalray
French manycore processor company building DPU/MPPA processors for storage and AI acceleration in data centers.
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