November 2, 2018

HashiCorp raises USD 100 million to boost cloud computing providers

The investment seeks to further develop different tools that are required to boost the multi-cloud prowess of enterprises.

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HashiCorp have raised a funding of USD 100 million to boost cloud computing providers with cutting-edge tools that can simplify multi-cloud deployment for enterprises. With this investment, HashiCorp will be focusing on aspects like security, automation and connectivity to fortify the cloud infrastructure of enterprises globally.

According to HashiCorp, enterprises like to deploy multi-cloud environments to store and accelerate their workloads. They say that since they host data on different cloud environments, security and connectivity becomes an issue when they want an overview through a single-pane-of-glass dashboard.

By raising USD 100 million in funding, HashiCorp claim that they will be focusing on security, connectivity and automation to build sophisticated tools boosting multi-cloud environments. They say that these tools will not only simplify multi-cloud for enterprises but provide them with data to make business decisions quickly.

With this investment, HashiCorp say that they have been evaluated at USD 1.9 billion. They also revealed that the new round, led by IVP (Institutional Venture Partners), included participation from existing investors like GGV Capital, Mayfield, Redpoint Ventures, and True Ventures as well as new investor Bessemer Venture Partners, who have now pumped $174 million into the company.

A spokesperson for IVP commented:

It takes an incredible number of factors to align for a startup to break out, but perhaps none more important than having the right product for the market at the right time.

In addition to focusing on security and automation, HashiCorp say that they will also be boosting their sales, marketing and support staff. They further added that this investment will help software developers and infrastructure operators to deploy applications across multiple environments, including public cloud providers like Amazon Web Services or homegrown infrastructure.

Market analysts claim that this investment will entice private equity companies to partner and/or merge with security and cloud computing providers, following the investment received by StackRox by In-Q-Tel weeks ago.

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