HashiCorp, Inc.
Headquarters
San Francisco, CAFounded
2012CEO / Founder
Armon DadgarEmployees
1001-5000Funding
Acquired — $349MProducts
0 products listedWebsite
hashicorp.com/
Profile updated
About HashiCorp, Inc.
HashiCorp is an infrastructure automation software company headquartered in San Francisco, California, founded in 2012 by Mitchell Hashimoto and Armon Dadgar. The company builds tools that enable organizations to provision, secure, connect, and run infrastructure across cloud and on-premises environments. IBM completed its acquisition of HashiCorp in February 2025 for approximately $6.4 billion.
HashiCorp's primary products include Terraform, an infrastructure-as-code tool for provisioning cloud resources; Vault, a secrets management and data protection platform; Consul, a service mesh and network automation tool; and Nomad, a workload orchestration platform. Terraform is among the most widely adopted infrastructure-as-code tools in the industry, used by enterprises across financial services, technology, and healthcare sectors. In 2023, HashiCorp shifted Terraform and several other products from the Mozilla Public License to the Business Source License, prompting the community to fork Terraform into an open-source project called OpenTofu.
HashiCorp raised approximately $349 million in venture funding prior to its IPO, with investors including GGV Capital, Mayfield Fund, and True Ventures. The company went public on the Nasdaq in December 2021 under the ticker HCP, reaching a valuation of roughly $14 billion at its IPO. IBM announced its intent to acquire HashiCorp in April 2024 and closed the transaction in February 2025, integrating the company into its hybrid cloud software portfolio.
Specialties
Financials
Dated, source-cited figures. Estimates are marked.
No products listed yet for this company.
Competitive Landscape
Who HashiCorp, Inc. competes with, and how they differ.
Infrastructure-as-code competitor that uses general-purpose programming languages (Python, TypeScript, Go) instead of Terraform's HCL DSL, targeting developers who prefer native language tooling over a declarative config language.
AWS-native IaC service bundled free with AWS accounts, limited to AWS resources unlike Terraform's multi-cloud provider ecosystem, and tightly integrated with AWS-specific tooling like SAM and CodePipeline.
Focuses on CI/CD pipeline orchestration and feature flagging with a commercial SaaS-first pricing model, offering some provisioning capabilities but not a dedicated declarative IaC state-management engine like Terraform.
1 product reviewed on TopReviewed
Broader DevOps platform covering source control, CI/CD, and security scanning, with infrastructure provisioning as one feature among many rather than Terraform's specialized focus on multi-cloud resource state management.
1 product reviewed on TopReviewedCompany Timeline
Key milestones in HashiCorp, Inc.'s history, with sources.
- Acquisition
IBM completes $6.4B acquisition of HashiCorp
The deal closed roughly ten months after announcement, following clearance from the U.S. FTC and the U.K. Competition and Markets Authority.
techcrunch.com - Acquisition
IBM agrees to acquire HashiCorp for $6.4B ($35/share)
IBM announced an all-cash deal at $35 per share, a $6.4B enterprise value, positioning HashiCorp's Terraform and Vault at the core of IBM's hybrid-cloud platform.
newsroom.ibm.com - Milestone
Adopted Business Source License for all products
Switched future releases of Terraform, Vault, Consul, Nomad, and other products from MPL 2.0 to BSL 1.1, restricting competitive offerings; the change prompted the community OpenTofu fork of Terraform.
globenewswire.com - Milestone
IPO on Nasdaq — raised $1.2B at ~$14B valuation
Priced 15 million shares at $80, above the $68-$72 range, under ticker HCP; shares closed the first session up 6.5% at $85.19.
siliconangle.com - Funding
Series E — $175M led by Franklin Templeton at $5.1B valuation
The late-stage round from Franklin Templeton Investments more than doubled HashiCorp's valuation from the $1.9B Series D.
techcrunch.com - Funding
Series D — $100M led by IVP at $1.9B valuation
The round, joined by Bessemer Venture Partners alongside GGV Capital, Mayfield, Redpoint Ventures, and True Ventures, made HashiCorp a unicorn and brought total funding to $174.2M.
news.crunchbase.com - Launch
Vault released — secrets management platform
Vault secures tokens, passwords, certificates, and encryption keys with identity-based access, encryption at rest and in transit, and audit logging.
invgate.com - Launch
Terraform released — open-source infrastructure as code
HashiCorp launched Terraform, a cloud-agnostic infrastructure-as-code provisioning tool that became its flagship product and an industry standard.
en.wikipedia.org - Founded
HashiCorp founded by Mitchell Hashimoto and Armon Dadgar
Founded in San Francisco by University of Washington classmates Mitchell Hashimoto and Armon Dadgar, building on Hashimoto's open-source Vagrant project.
en.wikipedia.org
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