Total amount raised
$359 Millions
Latest funding date
March, 2020
Location
HashiCorp has successfully raised significant funding over multiple rounds, achieving a notable valuation through its strategic financial maneuvers. The company offers a suite of cloud infrastructure automation products that cater to developers, operators, and security professionals.
Continue reading to delve into the details of HashiCorp's funding journey and the key investors who have backed this influential platform.
What Is HashiCorp?
Founded in 2012 by Armon Dadgar and Mitchell Hashimoto, HashiCorp is headquartered in San Francisco, California. The company specializes in cloud infrastructure automation, offering a suite of products that address development, security, and operations challenges.
HashiCorp's key products include Terraform, Vault, Consul, Nomad, and Boundary, which are designed to help organizations manage and secure their infrastructure efficiently. The company operates on a remote-first model, allowing it to attract talent from around the globe.
With a workforce ranging between 1001-5000 employees, HashiCorp continues to grow and innovate, providing essential tools for developers, operators, and security professionals worldwide.
How Much Funding Has HashiCorp Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: October 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop core products and establish the company.
- Series A
- Amount Raised: $10.2M
- Date: December 2014
- Lead Investors: Mayfield Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale product development and expand the team.
- Series B
- Amount Raised: $24M
- Date: September 2016
- Lead Investors: Notable Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance product offerings.
- Series C
- Amount Raised: $40M
- Date: October 2017
- Lead Investors: Notable Capital, Redpoint
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and invest in customer success.
- Series D
- Amount Raised: $100M
- Date: November 2018
- Lead Investors: IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support global expansion and product innovation.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: February 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and enhance product capabilities.
- Series E
- Amount Raised: $175M
- Date: March 2020
- Lead Investors: Franklin Templeton
- Valuation at Round: $5.1B
- Motivation Behind the Round: To accelerate multi-cloud infrastructure automation and expand customer support.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
Total Amount Raised: $349.2M
Current Valuation: $5.1B
Key Investors
- Franklin Templeton
- Details: Franklin Templeton is a global investment management organization known for its expertise in equity, fixed income, alternative, and multi-asset solutions. They have a strong presence in the financial industry, managing assets for individual and institutional investors worldwide.
- Investment Focus Areas: Technology strategies, multi-cloud infrastructure, financial services.
- Notable Investments: Not publicly disclosed.
- T. Rowe Price Associates, Inc.
- Details: T. Rowe Price is a global investment management firm that offers a broad range of mutual funds, subadvisory services, and separate account management for individual and institutional investors. They are known for their disciplined investment approach and long-term perspective.
- Investment Focus Areas: Global technology, cloud infrastructure automation, IT modernization.
- Notable Investments: Not publicly disclosed.
- IVP
- Details: IVP (Institutional Venture Partners) is a premier later-stage venture capital and growth equity firm. They focus on investing in rapidly-growing technology and media companies.
- Investment Focus Areas: Technology, media, enterprise software.
- Notable Investments: Slack, Twitter, Dropbox.
- Mayfield
- Details: Mayfield is a venture capital firm with a history of investing in early-stage technology companies. They have a strong track record of helping startups scale and achieve market leadership.
- Investment Focus Areas: Enterprise software, consumer technology, health tech.
- Notable Investments: Lyft, SolarCity, Marketo.
- Redpoint Ventures
- Details: Redpoint Ventures is a venture capital firm that invests in seed, early, and growth-stage companies. They focus on partnering with visionary entrepreneurs to build impactful companies.
- Investment Focus Areas: Consumer internet, enterprise software, digital media.
- Notable Investments: Netflix, Stripe, Twilio.
What's Next for HashiCorp?
HashiCorp stands at the forefront of a significant opportunity, poised to become a foundational infrastructure company for enterprises adopting multi-cloud strategies. With a customer base that includes over 100 Fortune 500 companies and a valuation of $5.1 billion, the company is well-positioned to capitalize on the growing demand for cloud infrastructure automation tools.
Future fundraising opportunities seem promising, given the company's consistent year-over-year revenue growth and the successful Series E funding round. However, HashiCorp will need to navigate challenges such as maintaining rapid growth, scaling operations, and staying ahead in a competitive market. As enterprises continue to modernize their IT environments, HashiCorp's role in enabling multi-cloud infrastructure will be crucial.
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