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HashiCorp raises $100 million at $1.9 billion valuation to Help Enterprises Adopt Multi-Cloud

Hashicorp counts Google Cloud and other leading cloud infrastructure providers as strategic partners

Hashicorp

San Francisco based cloud software company Hashicorp has raised $100 million in Series D funding led by IVP with participation from Bessemer Venture Partners and existing investors GGV Capital, Mayfield, Redpoint Ventures, and True Ventures. This round values the company at $1.9 billion marking another entry into the unicorn club.

Hashicorp plans to invest more on its open source and commercial product development, hiring of more people and customer success and training efforts for its global customer base. It provides software for the four main components of infrastructure automation -- provisioning, security, networking, and application runtime and assist organizations transition to cloud infrastructure with ease.

Hashicorp co-founder and CTO Mitchell Hashimoto
image credit : Hashicorp

Hashicorp's current customers include Citadel, Adobe, Credit Karma, Barclays, Cruise Automation, Ripple, Pandora, Hulu, Segment, Spaceflight, SAP Ariba, Spaceflight. and other notable names having added high numbers of new customers annually since it began selling commercial products 2 years ago.

It counts more than 50 of the Fortune 500 and over 100 of the Global 2000 among its paying customers, has had 45 million downloads of its open source products in the past 12 months alone, has grown to 320 employees and also extended work with key cloud and infrastructure providers, including Alibaba Cloud, AWS, Google Cloud, Microsoft Azure, Oracle Cloud, and VMware.

image credit : Hashicorp

“Since our inception, we’ve been deeply committed to enabling multi-cloud,” Hashicorp CEO Dave McJannet said in a statement. “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.”

“We see a profound, generational shift in the market with the move to multi-cloud architectures,” IVP investor Tom Loverro also added. “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. ”




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