Top Executive: Eric Hayes, CEO
Fungible wants to make data centers more powerful, efficient and economical with a portfolio of storage clusters, accelerator cards and turn-key data centers. All these products are powered by the Santa Clara, Calif.-based startup’s data processing unit, which can offload various data center functions from the CPU. The startup most recently launched the Fungible Storage Initiator cards, which allow standard servers to adopt NVME over TCP storage in the fastest and most efficient way possible. This gives data centers the benefits of pooled storage without sacrificing performance. The new product line was launched a couple months after Fungible appointed former Marvell and Broadcom executive Eric Hayes as its new CEO. Hayes took over from Pradeep Sinhu, who moved into the new role of chief development officer while retaining his title as executive chairman. The company has raised more than $300 million from investors, including a $200 million Series C round from 2019.