When was Penguin Solutions founded?

Penguin Solutions was founded in 1998 and raised its 1st funding round 26 years after it was founded.

Where is Penguin Solutions located?

Penguin Solutions is headquartered in Fremont, United States.

How many employees does Penguin Solutions have?

As of Aug 31, 2026, the latest employee count at Penguin Solutions is 1896.

Is Penguin Solutions a funded company?

Penguin Solutions is a funded company, having raised a total of $***** in its 1st and only funding round, a Post IPO round on Dec 16, 2024.

When was the latest funding round of Penguin Solutions?

Penguin Solutions' latest funding was a $***** Post IPO round on Dec 16, 2024, with participation from 1 investor.

What is the annual revenue of Penguin Solutions?

Annual revenue of Penguin Solutions is more than $1B as on Aug 31, 2025

Where does Penguin Solutions rank among its competitors?

Penguin Solutions ranks 303rd amongst 138375 active competitors, of which 982 are funded. It stands 11th in terms of total funding among its competitors. The most recent competitor to raise funding was Hewlett Packard Enterprise, which secured $118K in Sep, 2025.

Who are the top competitors of Penguin Solutions?

Penguin Solutions' top competitors include IBM, UST and Infosys. Among them, Hewlett Packard Enterprise secured the most recent funding round in September, 2025.

Penguin Solutions - 2026 Company Profile, Funding, Competitors & Financials

Penguin Solutions is a public company based in Fremont (United States), founded in 1998. It operates as a Provider of networking, cloud, AI, and IoT services. Penguin Solutions has raised an undisclosed amount in funding. The company has 138375 active competitors, including 982 funded and 7716 that have exited. Its top competitors include companies like IBM, UST and Infosys.

Key Metrics

Founded Year

1998

Location

Fremont, United States

Stage

Public

Latest Funding Round

Post IPO, Dec 16, 2024, $*****

Investors

Siris Capital & 1 more

Ranked

303^rd among 138375 active competitors

Annual Revenue

$1B+ as on Aug 31, 2025

Employee Count

1,896 as on Aug 31, 2026

Similar Companies

IBM & 161990 more

Exit Details

Public

View Penguin Solutions' full profile

Penguin Solutions is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
Penguin Solutions, Inc. CIN: 1616533 , United States, Active		$1B+ (As on Aug 31, 2025)	-	-

Penguin Solutions got listed on May 24, 2017.

Click here to take a look at Penguin Solutions's IPO in detail

Penguin Solutions has raised funding over 1 round. Its latest funding round was a Post IPO round on Dec 16, 2024 for $*****. 1 investor participated in its latest round. Penguin Solutions has 2 institutional investors.

Here is the list of recent funding rounds of Penguin Solutions:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Dec 16, 2024	9344860	Post IPO	5694042	5590633	1020845	3540234

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Penguin Solutions' employee count trend

Penguin Solutions has 1,896 employees as of Aug 26. Here is Penguin Solutions's employee count trend over the years:

Employee count trend for Penguin Solutions

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Top competitors of Penguin Solutions include IBM, UST and Infosys. Here is the list of Top 10 competitors of Penguin Solutions, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	IBM 1911, Armonk (United States), Public	Provider of hybrid cloud, artificial intelligence, and IT consulting services	-	Berkshire Hathaway, Runway & 22 others	77/100
2nd	UST 1999, Aliso Viejo (United States), Late Stage	Provider of data analytics, cloud modernization, management strategy, and digital transformation services	$250M	Temasek, MFAR & 1 others	76/100
3rd	Infosys 1981, Bengaluru (India), Public	Provider of consulting, data analytics, and IT services	-	Nepean Capital, Seaside Private Capital & 1 others	75/100
4th	Hewlett Packard Enterprise 2015, Houston (United States), Public	Provider of edge-to-cloud solutions, products, and services for enterprise organizations	-	Kleiner Perkins, Draper Athena & 3 others	74/100
5th	Datamatics 1975, Mumbai (India), Public	Provider of digital technologies, business process management, analytics, and automation services	$3M	IIML	73/100
6th	Happiest Minds Technologies 2011, Bengaluru (India), Public	Provider of IT suite services	$64.8M	Canaan, Trident Trust & 37 others	73/100
7th	Virtusa 1996, Westborough (United States), Acquired	IT services company	$45.2M	EQT, Back Bay Group & 8 others	73/100
8th	Mindtree 1999, Bengaluru (India), Acquired	Consulting and implementations company	$23.9M	Global Technology Ventures, Walden Israel ... & 9 others	73/100
9th	Sutherland 1986, Pittsford (United States), Late Stage	Provider of business process and technology management services	$60M	Affirma Capital, Oak Investment Partners & 3 others	73/100
10th	Accenture 1989, Dublin (Ireland), Public	Provider of IT consulting, technology, and outsourcing services	-	ngn-capital.com, Bondeinvest.com & 6 others	73/100
303rd	Penguin Solutions 1998, Fremont (United States), Public	Provider of networking, cloud, AI, and IoT services	-	Siris Capital, SK Telecom	52/100

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Penguin Solutions has made no investments or acquisitions yet.

Here is the latest report on Penguin Solutions's sector:

Free

IT Services - Sector Report

Edition: July, 2026 (74 Pages)

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Media has covered Penguin Solutions for a total of 49 events in the last 1 year, 28 of them have been about company updates and 2 about people movement.