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- AMD Pensando
AMD Pensando Acquisition, Valuation, Funding & Investors
AMD Pensando was acquired by AMD for $1.9B in April 2022, a 19.0x multiple on $100M of revenue.
AMD Pensando revenue at acquisition
$100M
Last twelve months · Apr 2022
AMD Pensando revenue multiple at acquisition
19.0x
EV/Revenue · Apr 2022
Cumulative funding AMD Pensando raised
$313M
across 4 funding rounds
About AMD Pensando
AMD Pensando is a developer of distributed computing platforms for edge applications, including software-defined services for cloud, networking, storage, and security. Acquired by AMD in 2022, it collaborates with HPE, NetApp, Equinix, and Fortune 500 customers to deliver high-performance architectures for telecommunications and enterprise data centers.
Founded
2017
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales, Subscription
Revenue
$100M (Apr 2022)
Valuation
$645M (Oct 2019)
AMD Pensando Acquisition
AMD Pensando was acquired by AMD for $1.9B on 4 April 2022.
The acquisition price implies a 19.0x revenue multiple on $100M of revenue.
Before the acquisition AMD Pensando had raised $313M across 4 funding rounds.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 4 Apr 2022 | Strategic M&A | $1.9B | 19.0x |
AMD Pensando Valuation
AMD Pensando is currently valued at $645M, based on its Series C in October 2019.
The $145M round was led by Hewlett Packard Enterprise and Lightspeed Venture Partners, with participation from Goldman Sachs.
AMD Pensando valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2019 | Series C | $645M |
AMD Pensando Funding History
AMD Pensando has raised a total of $313M across 4 funding rounds.
AMD Pensando's first fundraising round was a $71M Series A in January 2017. The most recent completed round was a $35M Series C in August 2021.
AMD Pensando funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2021 | Series C | Ericsson Ventures | $35M | - | - |
| Oct 2019 | Series C | Hewlett Packard Enterprise (lead); Lightspeed Venture Partners (lead); Goldman Sachs | $145M | $645M | Pensando Systems, founded in 2017 by former Cisco executives including Mario Mazzola, Prem Jain, Luca Cafiero, Soni Jiandani, and later joined by Randy Pond as CFO, emerged from stealth on October 16, 2019, with a Series C funding round of up to $145 million led by Hewlett Packard Enterprise and Lightspeed Venture Partners, alongside participation from Goldman Sachs and others. This brought total funding to $278 million, following a $71 million founder-led Series A in 2017 and a $62 million customer-led Series B in 2018. The company develops a distributed software-defined platform for edge services in enterprise and cloud computing, integrating compute, networking, storage, and security to transform legacy data centers into next-gen clouds, positioned as a competitor to AWS Nitro with claims of 5-9x improvements in productivity, performance, and scale, plus 20-40% CPU usage reduction. Pensando's platform enables programmable services at every node, eliminating legacy appliances like firewalls and load balancers, while supporting 5G, AI, and IoT workloads with cloud-like flexibility for data centers. Early customers included HPE, Goldman Sachs, NetApp, and Equinix, validating its technology during stealth. HPE CTO Mark Potter and Lightspeed's Barry Eggers joined the board post-round. The funding supported acceleration of engineering, operations, and go-to-market activities. Pensando later raised additional capital, reaching at least $313 million total by 2021. In 2022, AMD acquired Pensando for $1.9 billion, integrating its distributed services platform (DPU technology) into AMD's data center portfolio alongside EPYC CPUs, GPUs, FPGAs, and adaptive SoCs to enhance performance, security, and flexibility for cloud, enterprise, and edge customers. The team brought expertise from building multi-billion-dollar businesses in networking and storage. |
| Jan 2018 | Series B | - | $62M | - | Pensando Systems, co-founded in 2017 by former Cisco executives including John Chambers, developed a distributed services platform with programmable packet processors for cloud computing and data centers, targeting high-performance applications to compete with Intel and Nvidia. The company operated in stealth until 2019 and attracted investors like Lightspeed Venture Partners, Hewlett Packard Enterprise, Qualcomm Ventures, Ericsson Ventures, Liberty Global Ventures, GV, NetApp, and Goldman Sachs. It raised a total of approximately $278M to $313M across multiple rounds, with a notable 2019 Series C round of up to $145M led by HPE and Lightspeed at a $645M valuation, bringing cumulative funding to $278M at that time. By 2022, Pensando had deployed over 100,000 platforms in production for customers including Goldman Sachs, IBM Cloud, and Microsoft Azure, showcasing strong traction in edge and cloud infrastructure. |
| Jan 2017 | Series A | - | $71M | - | Pensando Systems was founded in 2017 by a group of former Cisco engineers, including former Cisco CEO John Chambers as co-founder and chairman. The company developed a distributed services platform featuring a programmable packet processor optimized for edge computing, designed to accelerate networking, security, storage and other services while offloading workloads from CPUs. Pensando operated in stealth mode from its 2017 founding until emerging publicly in October 2019 with its Series C funding announcement. The company's first documented funding round was Series C in October 2019, led by Hewlett Packard Enterprise and Lightspeed Venture Partners, raising up to $145 million and bringing total funding to $278 million after earlier founder-led Series A ($71 million) and customer-led Series B ($62 million) rounds. By the time of its acquisition by AMD in April 2022, Pensando had raised over $313 million from investors including Lightspeed Ventures, HPE, Qualcomm Ventures, Ericsson Ventures, and Liberty Global Ventures. The company served major cloud and enterprise customers including Goldman Sachs, Microsoft Azure, Oracle Cloud, and IBM Cloud, with over 100,000 platforms deployed in production. AMD acquired Pensando for approximately $1.9 billion in April 2022 to expand its data center capabilities and compete with Intel and Nvidia in the cloud infrastructure market. |
Who has invested in AMD Pensando?
4 investors have backed AMD Pensando across its funding rounds, including Lightspeed Venture Partners, Goldman Sachs, Hewlett Packard Enterprise and Ericsson Ventures.
Lead investors include Hewlett Packard Enterprise and Lightspeed Venture Partners.
AMD Pensando Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Oct 2019 | ||
| 1 | Lead | Oct 2019 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAMD Pensando Competitors
AMD Pensando competitors include listed companies like UCloud Technology and VNET Group, and private ones like Meter, MegazoneCloud, Aviatrix and Druva.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1B | - | ||
| Publicly listed | $253M | $31M | $2B | - | ||
| Private | - | - | $1.8B | - | ||
| Private | $40M | - | $2B | 50.0x | ||
| Private | $100M | - | $2B | 20.0x | ||
| Publicly listed | $1.5B | $463M | $1.7B | 3.7x |
AMD Pensando Public Comps
AMD Pensando is no longer listed, but its public comps include Browave, Jezetek, UCloud Technology, China Marine Information, ESDS Software, Preformed Line Products, SharonAI, Eastern Communications, VNET Group and C3.ai.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $70M | $19M | 26.8x | 26.2x | 96.3x | 89.2x | |||
| $613M | $50M | 3.2x | - | 38.8x | - | |||
| $253M | $31M | 7.7x | - | 63.2x | - | |||
| $527M | $44M | 3.4x | 3.5x | 41.0x | - | |||
| $49M | $25M | 38.3x | 13.8x | 76.7x | 56.6x | |||
| $669M | $68M | 3.0x | 2.6x | 29.5x | 20.1x | |||
| $2M | ($36M) | 752.3x | 13.7x | (32.7x) | 46.2x | |||
| $369M | $65M | 4.6x | - | 25.9x | - | |||
This data is available for Pro users. Sign up to see all AMD Pensando competitors and their valuation data. Start Free Trial | ||||||||
Common questions about AMD Pensando
| When was AMD Pensando founded? | AMD Pensando was founded in 2017. |
| Where is AMD Pensando headquartered? | AMD Pensando is headquartered in San Jose, CA, United States. |
| Is AMD Pensando publicly listed? | No, AMD Pensando was acquired by AMD in April 2022. |
| Who acquired AMD Pensando? | AMD Pensando was acquired by AMD in April 2022. |
| How much was AMD Pensando acquired for? | AMD Pensando was acquired for $1.9B in April 2022, a 19.0x revenue multiple. |
| What is AMD Pensando's valuation? | AMD Pensando was last valued at $645M in its Series C in October 2019. |
| How much funding has AMD Pensando raised? | AMD Pensando has raised $313M across 4 funding rounds. |
| What was AMD Pensando's last funding round? | AMD Pensando's last funding round was a $35M Series C in August 2021. |
| Who are AMD Pensando's investors? | AMD Pensando's investors include Goldman Sachs, Hewlett Packard Enterprise, Lightspeed Venture Partners and Ericsson Ventures. |
| Which companies are comparable to AMD Pensando? | Companies comparable to AMD Pensando include Meter, UCloud Technology, MegazoneCloud, Aviatrix, Druva and VNET Group. |
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