Fungible was founded in 2015 by Bertrand Serlet, Apple's former VP of software engineering, and Pradeep Sindhu. The company has not publicly endorsed a plan to participate in an IPO. These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Fungible is a data management company that develops hardware and software to improve the performance and efficiency of data centers. The company has customers in industries such as healthcare, manufacturing, agriculture, gaming, and financial services. In 2020, Fungible acquired Cloudistics, a platform that unifies various parts of the data center ecosystem. Fungible has raised more than $300 million in venture capital funding from investors including SoftBank Vision Fund, Norwest Venture Partners, Battery Ventures, Mayfield Fund, Redline Capital, and Walden Riverwood Ventures. The company has not released recent valuation figures.