Today HashiCorp announced a $10M Series A financing. GGV Capital is excited to have participated in this financing, alongside new investor Mayfield Fund and existing investor True Ventures. Pursuant to this investment, I joined HashiCorp’s board of directors.
My partners and I jumped at the chance to invest in HashiCorp. Our enthusiasm is driven by several key factors:
- Quality of Team. HashiCorp’s founders, Mitchell Hashimoto and Armon Dadgar, are two of the most incredible engineers with whom we’ve had the chance to work. The two have envisioned, architected and built some of the most popular open source DevOps tools that are helping thousands of companies streamline core development, operations and deployment processes. They’ve successfully recruited other exceptional engineers who’ve been contributors to their open source projects to join HashiCorp and the momentum is continuing to build.
- Vast Market Opportunity. Software development has changed dramatically with the advent of virtualization, public & private cloud infrastructure and the proliferation of mobile computing. Gone are the days of long development cycles and the division of development from operations and production. Today’s developers need immediate feedback on the performance of newly shipped code in production while operations and reliability professionals need a deep understanding of the software they’re managing and processes that enable scalability. HashiCorp sits right at the nexus of these challenges, aiming to develop one foundation to manage servers, virtual machines, containers, configurations and server discovery, and one workflow to move from development to production on any infrastructure. As software becomes a core value driver for more and more companies, the importance of HashiCorp’s suite grows exponentially.
- Momentum in the Community. Over the past several years, HashiCorp’s open source projects such as Vagrant, Serf, Packer, Consul and Terraform have gained widespread popularity. Over 500,000 active users from many of the world’s leading technology companies have adopted HashiCorp’s open source tools to streamline their software development processes. The high quality of HashiCorp’s software has garnered heavy support from this broad user base, and this group is eager to learn more about HashiCorp’s commercialization activities.
With all these factors at play, HashiCorp’s future is undoubtedly quite bright. We look forward to great things from our partnership with Mitchell, Armon and their team.