HashiCorp Raises $100 Million to Help Enterprises Adopt Multi-Cloud

HashiCorp, a leader in cloud infrastructure automation, announced that it has raised $100 million in Series D funding, at a company valuation of $1.9 billion. This brings the total funding that HashiCorp has raised to $174 million. The round was led by new investor IVP, with participation from Bessemer Venture Partners, also a new investor. Existing HashiCorp investors GGV Capital, Mayfield, Redpoint Ventures, and True Ventures also participated in this round.

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The new round of funding will enable HashiCorp to accelerate its focus on enabling multi-cloud infrastructure automation for Global 2000 organizations. The company plans to focus investment on its open source and commercial product development; increased hiring in global go-to-market functions; and its customer success, support, and training efforts for its worldwide customer base.

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HashiCorp’s open source and commercial offerings provide solutions for the four main components of infrastructure automation — provisioning, security, networking, and application runtime. As organizations navigate the transition to cloud infrastructure, all four of these areas require new, dynamic approaches. HashiCorp software addresses the needs of dynamic infrastructure with consistent workflows to provision, secure, connect, and run any infrastructure for any application.

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“Since our inception, we’ve been deeply committed to enabling multi-cloud,” said Dave McJannet, CEO of HashiCorp. “Because practitioners choose technologies in the cloud era, we’ve taken an open source-first approach and partnered with the cloud providers to enable a common workflow for cloud adoption. Commercially, we view our responsibility as a strategic partner to the Global 2000 as they adopt hybrid and multi-cloud. This round of funding will help us accelerate our efforts.”

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“We see a profound, generational shift in the market with the move to multi-cloud architectures,” said Tom Loverro, investor at IVP. “HashiCorp is in one of the best strategic positions to take advantage of this shift, with their combination of massive open source adoption, partner endorsement, and an experienced management team to help build the next significant enterprise infrastructure software company. We are thrilled to be part of this journey along with HashiCorp.”

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HashiCorp company momentum includes:

• HashiCorp added record numbers of new customers each year since the company began selling commercial products in 2016, including Adobe, Barclays, Citadel, Credit Karma, Cruise Automation, Deluxe Entertainment, Equinix, Hulu, Jet.com, Pandora, Petco, Proofpoint, Ripple, SAP Ariba, Segment, and Spaceflight.
• HashiCorp now counts more than 50 of the Fortune 500 and over 100 of the Global 2000 among its paying customers.
• HashiCorp had 45 million downloads of its open source products in the past 12 months, up from 22 million the previous year.
• The company released 80 updates across its suite of enterprise and open source products, with more than 43,000 commits, in the past 12 months.
• In the past 12 months, HashiCorp grew from 130 to 320 employees.
• The company has extended its work with key cloud and infrastructure providers, including Alibaba Cloud, AWS, Google Cloud, Microsoft Azure, Oracle Cloud, and VMware.
• HashiCorp has expanded its customer support centers internationally to include locations in Amsterdam and Sofia, Bulgaria, with plans to open a Melbourne, Australia, support operation.
• HashiCorp has expanded the HashiCorp Partner Program to include 38 resellers, 117 system integrators, and 45 technology partners in North America, EMEA, and Asia Pacific.
• HashiCorp held its fourth annual HashiConf user and technology conference last week in San Francisco with more than 1,200 attendees. The conference featured speakers from organizations including AWS, Blackstone Federal, Bloomberg LP, Boston Consulting Group, CircleCI, Cloudreach, Criteo, Cruise Automation, Deluxe Entertainment, DigitalOcean, eBay Classifieds Group, Ellie Mae, Google, Gruntwork, HAProxy Technologies, Instruqt, Microsoft, Red Hat, Reddit, Riot Games, Solo.io, Sylabs, Target, and others.
• AWS, Google Cloud, Microsoft Azure, and Oracle Cloud sponsored HashiConf 2018 along with 25 other partner organizations.
• The HashiCorp community now has HashiCorp User Groups in 74 cities and 38 countries around the world, totaling more than 15,000 members.
• HashiCorp accolades include being named #32 on the Forbes 2018 Cloud 100 list, a Cool Vendor in DevOps by Gartner, an Innovator by IDC, an MIT Sloan CIO Symposium Innovation Showcase finalist, an Innovative Startup by CNBC, a San Francisco Chronicle Startup to Watch, a Technology of the Year by InfoWorld, one of InformationWeek’s 25 DevOps Vendors to Consider, one of CRN’s 10 Coolest Cloud Development Startups, one of SD Times’ Best in Software Development, and OSCON Breakout Project of the Year (for Vault). Co-founders and CTOs Mitchell Hashimoto and Armon Dadgar have also been named to Forbes and Inc’s 30 Under 30 lists.

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