HashiCorp raises a $40M Series C round as more businesses realize they need help with the cloud

Armon Dadgar (L) and Mitchell Hashimoto, co-founders and co-CTOs, HashiCorp (HashiCorp Photo)

Moving your applications to the cloud isn’t always as easy as those selling cloud services would like you to believe. That’s creating a market for startups like HashiCorp, which announced Tuesday that it has raised $40 million in new funding.

The Series C round was led by GGV Capital and Redpoint Ventures, with earlier investors Mayfield and True Ventures participating. The new haul brings HashiCorp’s total funding to $74 million, and CEO Dave McJannet said in a release that the company plans to increase the number of sales and support staff on its roster.

HashiCorp is following a well-worn path in enterprise computing, developing and maintaining a variety of open-source projects while selling a supported enterprise version to companies that lack the skills or patience to implement the projects. The commercial products help companies run their applications across multiple public clouds and on-premises infrastructure, and Microsoft struck a partnership with the company earlier this year to make HashiCorp’s Terraform infrastructure management product easier to access in Microsoft Azure.

The company was founded in 2012 by two graduates of the University of Washington’s computer science program; co-CTOs Armon Dadgar and Mitchell Hashimoto. Now based in San Francisco, Hashicorp has added some big customers this year, including Adobe, Barclays, and Comcast, it said in a press release.

Here’s a video of Hashimoto speaking at our Cloud Tech Summit earlier this year on how to make sure security doesn’t get lost in a rush to adopt DevOps principles.