HashiCorp: $175 Million Funding And Over $5 Billion Valuation

By Dan Anderson ● March 17, 2020
  • Multi-cloud infrastructure automation software HashiCorp announced it raised $175 million in Series E funding at a valuation of $5.1 billion

HashiCorp — a leader in multi-cloud infrastructure automation software — announced it raised $175 million in Series E funding at a valuation of over $5.1 billion. This funding round was led by Franklin Templeton and included participation from funds and accounts advised by T. Rowe Price Associates, Inc., Geodesic Capital as well as existing investors GGV Capital, IVP, Mayfield, Redpoint Ventures, and True Ventures. And the new funding round will accelerate HashiCorp’s focus on enabling multi-cloud infrastructure automation for organizations around the world that are working to extract the full value of multi-cloud IT environments.

HashiCorp has seen over 100% year-over-year revenue growth for 4 consecutive years. And the company has more than doubled its customer base each year during the same period.

Plus HashiCorp continues to see increased demand for its multi-cloud infrastructure automation products HashiCorp Terraform, Vault, Consul, and Nomad for infrastructure, security, networking, and application automation with over 100 of the Fortune 500 now deploying its commercial products.

With this funding round, HashiCorp will invest in the people and programs that support its customers around the world. And the funding will be used to expand its field, support, and customer success organizations worldwide, increase its investment in education, implementation and architectural guidance, and channel and technology partnerships as well as continue and expand research and development efforts.

Key Quotes:

“At HashiCorp, we are providing the Global 2000 with the critical software they need to adopt a cloud operating model for their infrastructure. Increasingly, our software is becoming mission critical to the largest organizations in the world, and we take our responsibility to deliver on their expectations very seriously. We are pleased to have Franklin Templeton and T. Rowe Price join as new investors and look forward to the continued partnership with our existing investor partners.”

-David McJannet, CEO of HashiCorp

“As organizations shift to a multi-cloud operating model, HashiCorp is well-positioned to partner with and enable enterprises to realize the full benefits of their multi-cloud strategy. This is why we believe HashiCorp has the opportunity to become a foundational infrastructure company, defining and enabling the needs of the largest enterprises as they adopt cloud.”

-Jonathan Curtis, vice president of equity research and portfolio manager for technology strategies at Franklin Templeton

“HashiCorp has distinguished itself as a leader in cloud infrastructure automation and is well positioned as enterprises modernize their traditional IT environments to be cloud native. We are impressed by the team and the traction of HashiCorp’s products that help customers provision, secure, connect, and run applications across their multi cloud infrastructure in a consistent and automated way. We are excited about the opportunity ahead for the company.”

-Alan Tu, portfolio manager, T. Rowe Price Global Technology Fund