HashiCorp

HashiCorp, Inc.

Company type	Public
Traded as	Nasdaq:  HCP
Industry	IT infrastructure
Founded	2012;13 years ago (2012)
Founders	Mitchell Hashimoto Armon Dadgar
Headquarters	101 Second Street, San Francisco, California , United States
Area served	Global
Key people	David McJannet (CEO)
Revenue	US$583 million (2024)
Operating income	US$−254 million (2024)
Net income	US$−191 million (2024)
Total assets	US$1.69 billion (2024)
Total equity	US$1.21 billion (2024)
Number of employees	c. 2,200 (2024)
Parent	IBM (2025–present)
Website	hashicorp.com
Footnotes /references Financials as of January 31,2024 [update] . [1]

HashiCorp, Inc. is an American software company ^[2] with a freemium business model based in San Francisco, California. HashiCorp provides tools and products that enable developers, operators and security professionals to provision, secure, run and connect cloud-computing infrastructure. ^[3] It was founded in 2012 by Mitchell Hashimoto and Armon Dadgar. ^{[4] [5]} The company name HashiCorp is a portmanteau of co-founder last name Hashimoto and Corporation. ^[6]

HashiCorp is headquartered in San Francisco, but their employees are distributed across the United States, Canada, Australia, India, and Europe. HashiCorp offers source-available libraries and other proprietary products. ^{[7] [8]}

History

Founders Armon Dadgar and Mitchell Hashimoto

HashiCorp was founded in 2012 by two classmates from the University of Washington, Mitchell Hashimoto and Armon Dadgar. ^[9] Co-founder Hashimoto was previously working on open-source software called Vagrant, which became incorporated into HashiCorp. ^[10]

On 29 November 2021, HashiCorp set terms for its IPO at 15.3 million shares at $68-$72 at a valuation of $13 billion. ^[11] It offered 15.3 million shares. ^[12] HashiCorp considers its workers to be remote workers first rather than coming into an office on a full-time basis. ^[13]

Around April 2021, a supply chain attack using code auditing tool codecov allowed hackers limited access to HashiCorp's customers networks. ^[14] As a result, private credentials were leaked. HashiCorp revoked a private signing key and asked its customers to use a new rotated key.

Mitchell Hashimoto resigned from the company in December 2023. ^[15]

Acquisition by IBM

On April 24, 2024, the company announced it had entered into an agreement to be acquired by IBM for $6.4 billion, with the transaction expected to close by the end of the same year. ^[16] This led to the Competition and Markets Authority of the United Kingdom launching an investigation into the acquisition in late 2024. ^{[17] [18]} The deal closed on February 27, 2025 for $6.4 billion after receiving the necessary regulatory approvals. ^[19]

Products

HashiCorp provides a suite of tools intended to support the development and deployment of large-scale service-oriented software installations. Each tool is aimed at specific stages in the life cycle of a software application, with a focus on automation. Many have a plugin-oriented architecture in order to provide integration with third-party technologies and services. ^[20] Additional proprietary features for some of these tools are offered commercially and are aimed at enterprise customers. ^[21]

The main product line consists of the following tools: ^{[3] [20]}

• Vagrant (first released in 2010 ^[22] ): supports the building and maintenance of reproducible software-development environments via virtualization technology.
• Packer  [ Wikidata ] (first released in June 2013 ^{[23] [24]} ): a tool for building virtual-machine images for later deployment.
• Terraform (first released in July 2014): infrastructure as code software which enables provisioning and adapting virtual infrastructure across all major cloud providers.
• Consul (first released in April 2014 ^{[25] [20]} ): provides service mesh, DNS-based service discovery, distributed KV storage, RPC, and event propagation. The underlying event, membership, and failure-detection mechanisms are provided by Serf, an open-source library also published by HashiCorp.
• Vault (first released in April 2015 ^[26] ): provides secrets management, identity-based access, encrypting application data and auditing of secrets for applications, systems, and users. ^[21]
• Nomad (released in September 2015 ^[27] ): supports scheduling and deployment of tasks across worker nodes in a cluster.
• Serf (first released in 2013): a decentralized cluster membership, failure detection, and orchestration software product. ^[28]
• Sentinel (first released in 2017 ^{[29] [30]} ): a policy as code framework for HashiCorp products. ^[31]
• Boundary (first released in October 2020 ^[32] ): provides secure remote access to systems based on trusted identity.
• Waypoint (first released in October 2020 ^[33] ): provides a modern workflow to build, deploy, and release across platforms.

References

1. "FY 2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. March 21, 2024.
2. Warren, Justin (23 February 2017). "Jay Fry Leaves New Relic To Head HashiCorp Marketing". Forbes.
3. Lardinois, Frederic (7 September 2016). "HashiCorp raises $24M for its DevOps infrastructure software". TechCrunch.
4. Williams, Alex (28 November 2012). "Vagrant Founder Launches HashiCorp To Support His Open Developer Management Tool". TechCrunch. AOL.
5. Handy, Alex (21 November 2016). "The future of HashiCorp". SD Times.
6. "HashiCorp: Past, Present, Future". Interconnected. 2021-09-19. Retrieved 2024-04-25.
7. Fay, Joe (8 September 2016). "HashiCorp pulls in $24m to build out DevOps infrastructure portfolio". The Register.
8. Dadgar, Armon. "HashiCorp adopts Business Source License". HashiCorp. Retrieved August 10, 2023.
9. Wang, Echo (December 8, 2021). "Software maker HashiCorp raises $1.2 billion in U.S. IPO - source". Reuters. Retrieved May 23, 2023.
10. Braunton, A. (2018). Hands-On DevOps with Vagrant: Implement end-to-end DevOps and infrastructure management using Vagrant. Packt Publishing. p. 8. ISBN   978-1-78913-678-4 . Retrieved May 23, 2023.
11. Beltran, Luisa. "Cloud Software Provider HashiCorp Targets $13 Billion Valuation With IPO". Barrons. Retrieved 30 November 2021.
12. Donovan, Kevin (November 30, 2021). "HashiCorp (HCP) launches IPO at $68-$72 to raise $1.10bn". Capital.com. Retrieved May 23, 2023.
13. Novet, Jordan (2021-12-09). "HashiCorp shares rise after one of top software IPOs of 2021 values company at over $14 billion". CNBC . Retrieved 2021-12-21.
14. "HashiCorp revoked private key exposed in Codecov security breach". VentureBeat. 2021-04-26. Retrieved 2021-08-03.
15. Hashimoto, Mitchell. "Mitchell reflects as he departs HashiCorp". HashiCorp. Retrieved 2024-04-30.
16. "IBM to Acquire HashiCorp, Inc. Creating a Comprehensive End-to-End Hybrid Cloud Platform". IBM . Retrieved 24 April 2024.
17. Speed, Richard (31 December 2024). "UK watchdog launches inquiry into IBM's HashiCorp acquisition". The Register .
18. "IBM / HashiCorp merger inquiry". GOV.UK. Retrieved 2025-02-15.
19. Sawers, Paul (2025-02-27). "IBM closes $6.4B HashiCorp acquisition". TechCrunch . Retrieved 2025-02-27.
20. Ward, Chris (20 June 2017). "HashiCorp Tools Useful for Continuous Integration". Codeship Blog.
21. "HashiCorp Announces the General Availability of Vault Enterprise for DevOps Security Across Dynamic Infrastructure". 7 September 2016.
22. "Release v0.1.0 · hashicorp/Vagrant". GitHub .
23. "Release v0.1.0 · hashicorp/Packer". GitHub .
24. "HashiCorp Packer 1.0".
25. "HashiCorp Consul".
26. "Vault/CHANGELOG.md at master · hashicorp/Vault". GitHub . April 2022.
27. "HashiCorp Nomad".
28. "Home". serf.io.
29. "Announcing Sentinel, HashiCorp's Policy as Code Framework".
30. "HashiCorp Sentinel - wikieduonline".
31. "HashiCorp Sentinel framework".
32. "Announcing HashiCorp Boundary".
33. "Announcing HashiCorp Waypoint".

External links

• Official website
• Hashicorp on GitHub