HashiCorp raises $100 million at $1.9 billion valuation

HashiCorp founder and CTO
Mitchell Hashimoto
HashiCorp

• The cloud infrastructure automation startup HashiCorp
  announced Thursday it raised $100 million in Series D
  funding.
• This brings HashiCorp’s valuation to $1.9 billion and
  its total funding to $174 million.
• HashiCorp recently announced new versions of four of
  its products at its conference in October.

On Thursday, cloud infrastructure
startup HashiCorp
announced it had raised $100 million in Series D funding.

This brings the company’s
valuation to $1.9 billion and its total funding to $174 million.
The funding was led by IVP, as well as Bessemer Venture Partners,
GGV Capital, Mayfield, Redpoint Ventures, and True
Ventures.

With the funding,

HashiCorp

plans to focus on open source and commercial
product development, as well as hiring and customer support
efforts. Since founders Mitchell Hashimoto and Armon
Dadgar

started the company

in 2012, the company has grown to
320 employees. At age 29, Hashimoto is
especially well-known as something of a prodigy — he launched
his first, $500,000-a-year business while still in
college.

HashiCorp is known

for its open source tools, which
means anyone can download its core software freely and modify the
code to their needs. In the past year,

HashiCorp

’s open source tools have 45 million
downloads. It makes its money by selling versions for business,
souped up with enhanced features. 

At its recent HashiCorp
conference in October, it

announced new versions

of its Consul, Terraform, Vault
and Nomad products. Originally, Hashimoto and Dadgar

created open source
software

for fun — a
hobby that eventually grew into HashiCorp. 

Read more:



HashiCorp’s founder turned a passion project into a
300-person company and then took on a tougher challenge: hiring a
CEO

“Since our inception, we’ve been
deeply committed to enabling multi-cloud,” Dave McJannet, CEO of
HashiCorp, 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.”

This announcement shows the
momentum in open source investment this past year, including
Microsoft’s

acquisition of GitHub

and IBM’s most recent
announcement that it would

acquire Red
Hat

.