The TL;DR
Hashicorp sells open-core software that helps developers manage their cloud infrastructure via code-based configuration and access.
- Cloud infrastructure is constantly evolving – larger organizations need to create and modify their resources on the reg
- As organizations move towards multi-cloud and infrastructure breadth increases, managing this stuff is getting more annoying
- Hashicorp provides a suite of open-core tools like Terraform and Vault to make this process easier for developers
- The company makes money by selling packaged solutions to large enterprises (and a little via cloud)
Hashicorp is a beloved and respected (importantly) brand among developers. And since raising at a $5B valuation in March 2020 and going public in December 2021, they've grown to generate $583.1 million in revenue in 2024. [1] From Hashicorp's most recent 10-K filing: Our revenue was $583.1 million, $475.9 million, and $320.8 million for the fiscal year ended January 31, 2024, or fiscal 2024, the fiscal year ended January 31, 2023, or fiscal 2023, and the fiscal year ended January 31, 2022, or fiscal 2022, respectively, representing period-over-period growth of 23% and 48%, respectively.
