HashiCorp has successfully raised $359 million over six funding rounds, establishing itself as a significant player in the cloud infrastructure space. The company offers a suite of products designed to automate the lifecycle management of infrastructure and security for critical applications.
Keep reading to explore the intricacies of HashiCorp's fundraising journey and the investors backing this innovative platform.
What Is HashiCorp?
Founded in 2012, HashiCorp is headquartered in San Francisco and operates as a remote-first company. The company was established by Mitchell Hashimoto and Armon Dadgar.
HashiCorp specializes in providing workflows to provision, secure, connect, and run any infrastructure for any application. Their suite of products includes Terraform, Vault, Consul, and Nomad, among others.
With a workforce of 501-1000 employees, HashiCorp focuses on solving development, operations, and security challenges in infrastructure, supporting both physical and virtual machines, Windows, Linux, SaaS, and IaaS.
How Much Funding Has HashiCorp Raised?
- Series A Funding Round
- Amount Raised: $10 million
- Date: December 9, 2014
- Lead Investors: Mayfield
- Motivation Behind the Round: To support the development and launch of Atlas, integrating open-source products into a single interface for managing the DevOps workflow.
- Series B Funding Round
- Amount Raised: $24 million
- Date: September 7, 2016
- Lead Investors: GGV Capital
- Motivation Behind the Round: To focus on seven key projects, solve workflow challenges, and support growth in large-scale verticals.
HashiCorp has raised a total of $34 million in funding. The current valuation is $5.1 billion (~estimated).
Key Investors
- GGV Capital
- Details: GGV Capital is a venture capital firm that focuses on multi-stage investments in the U.S. and China. Glenn Solomon, a managing partner at GGV Capital, is a board member at HashiCorp.
- Investment Focus Areas: Technology, Consumer, Enterprise, Fintech, Healthcare
- Notable Investments: Alibaba, Slack, Square
- Mayfield
- Details: Mayfield is a venture capital firm that invests in early-stage technology companies. Robin Vasan, a managing director at Mayfield, is a board member at HashiCorp.
- Investment Focus Areas: Technology, Enterprise, Consumer
- Notable Investments: Lyft, Poshmark, SolarCity
- True Ventures
- Details: True Ventures is a venture capital firm that invests in early-stage technology startups. They have been involved with HashiCorp since the Series A funding round.
- Investment Focus Areas: Technology, Consumer, Enterprise
- Notable Investments: Automattic (WordPress), Fitbit, Peloton
- Redpoint
- Details: Redpoint is a venture capital firm that invests in early and growth-stage technology companies. They joined as a new investor in HashiCorp's Series B funding round.
- Investment Focus Areas: Technology, Consumer, Enterprise
- Notable Investments: Netflix, Stripe, Twilio
What's Next for HashiCorp?
HashiCorp stands at the cusp of significant growth opportunities, particularly in large-scale verticals like financials, media, and retail. Their tools, which manage DevOps workflows independent of underlying infrastructure, are already popular among major enterprises such as Conde Nast, Cisco, and Mozilla. This positions HashiCorp to further expand its market reach and solidify its presence in the industry.
Future fundraising seems promising, given the strong investor confidence demonstrated in previous rounds. The company may seek additional funding to scale operations and enhance product offerings, especially as the demand for DevOps tools continues to rise. However, HashiCorp will need to navigate challenges such as intense competition and the necessity for continuous innovation to maintain its edge.
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