HashiCorp provides a cohesive suite of tools to help IT admins, developers, and DevOps teams operate multi-cloud, private cloud, and legacy infrastructure more reliably and cost-effectively. Its best-known product, Terraform, lets developers write repeatable infrastructure rules rather than ad hoc scripts; the company also offers Consul for network automation, Vault for security, and Nomad for application deployment. The company says it has doubled revenues and customers every year for four straight years, a growth metric it cites as core to its valuation. HashiCorp was founded in 2012 by Mitchell Hashimoto and Armon Dadgar and is based in San Francisco; David McJannet became CEO in mid-2016. With a new $175M financing round and a sizeable valuation, the company says it has a fresh war chest and is positioned to continue expanding in the enterprise market. HashiCorp provides cloud infrastructure automation tools and commercial products that help organizations provision, secure, connect and run infrastructure for any application. Its open-source tools—Vagrant, Packer, Terraform, Vault, Consul and Nomad—are downloaded tens of millions of times each year and are widely adopted by the Global 2000. Enterprise versions of these products add collaboration, operations, governance and multi–data-center features. The company raised a $100M Series D that valued it at $1.9 billion and brought total funding to date to $174M. HashiCorp plans to use the proceeds to advance open source and commercial product development, expand global go-to-market hiring, and invest in customer success, support and training. The company counts more than 50 of the Fortune 500 and over 100 of the Global 2000 as paying customers and has roughly 320 employees. HashiCorp develops open-source tools for provisioning and securing multi-cloud infrastructure, with Terraform as its best-known product. The company offers enterprise versions that add team collaboration, governance and audit-trail features to monetize its open-source software. Its tools have been downloaded more than 22 million times, and customers named in coverage include Adobe, Barclays, Comcast, New Relic, SAP Ariba, Segment and Spaceflight. HashiCorp says growth has accelerated over the last 18 months, particularly in landing larger enterprise contracts. The company focuses on addressing organizational complexity and orients commercial products around team and enterprise needs. HashiCorp plans to expand its presence in Europe and Asia and to double down on customer support and its field organization. HashiCorp develops a suite of open-source tools (including Vagrant, Packer, Terraform, Serf and Nomad) and enterprise services (HashiCorp Atlas and Vault) to manage distributed applications and infrastructure. Its tools target development, operations and security teams and work across virtual machines, containers, public clouds (Azure, AWS, Google Cloud Platform) and private cloud technologies such as OpenStack. The company says its immediate focus is on seven tentpole projects and corresponding enterprise applications to solve workflow challenges around its open-source tools; Vault is coming out of beta. HashiCorp’s primary source of income is enterprise services delivered via HashiCorp Atlas. The company reports paying enterprise teams at Conde Nast, Cisco and Mozilla, and notes broad open-source usage at Stripe, Uber, Twitch, OpenAI, Pinterest and Capital One. Growth is strongest in large-scale verticals including financials, media, retail and webmonster internet companies. HashiCorp develops a family of open source DevOps tools, including Vagrant, Packer, Serf, Consul, and Terraform. The company announced Atlas, a new commercial cloud service that stitches those products into a single interface for developing, building, deploying, and monitoring distributed applications. Atlas provides a unified dashboard that gives developers and IT operations visibility across the DevOps workflow and reduces the engineering effort required to integrate the tools. The service operates across Windows and Linux, on public and private clouds such as VMware, Amazon Web Services and OpenStack, on physical servers and containers like Docker, and integrates with Chef and Puppet. HashiCorp was launched in 2012 by Mitchell Hashimoto and Armon Dadgar after collaborating at the University of Washington. The company closed a $10 million Series A to support its commercial offering.

Total raised

$349M

Funding rounds

5

Latest round

Series E

Latest activity

Mar 2020