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What does Hashicorp do?

Hashicorp sells software that helps developers manage their cloud infrastructure via code-based configuration.

Last updated Mar 23, 2026devops
Justin Gage
Justin Gage
Read within learning track:Analyzing Software Companies

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.

Terms Mentioned

Open Source

Remote

SSH

Server

Cloud

Infrastructure

Docker

Networking

API

Metric

Analytics

Data warehouse

Deploy

Web App

Database

VPN

Kubernetes

Companies Mentioned

AWS logo

AWS

AMZN
Docker logo

Docker

PRIVATE
Hashicorp logo

Hashicorp

HCP

The core Hashicorp product: simplifying cloud

You can think of Hashicorp as a layer on top of your infrastructure, cloud or otherwise, agnostic to who you’re actually using – Amazon, Google, both of them, on-prem, whatever. And they help developers create and manage that infrastructure in a simple, scale-friendly way. They have products across several categories – cloud, security, networking, and apps – that abstract the lower level details and make it easier for developers to focus on just building their apps.

Why infrastructure needs managing

To understand Hashicorp, we’ll first need to get a view of what it’s like to manage cloud infrastructure, especially for larger companies. Let’s put on our x-ray goggles and venture into the desk clump by the wall that gets no light where they put the software engineers.

If you’re running your app(s) on cloud infrastructure today (and this also applies somewhat to home-grown stuff), your team runs up against 4 major problems. Well, more than that, but 4 for the purposes of this post.

1) Product overload

AWS has literally hundreds of products, and it’s not at all uncommon for companies to use 10 or even 20 of them at once. To quote from the original Technically post on AWS:

Even medium sized startups will often be using 10+ AWS services from the get go, and more established businesses can easily go past 100. Let’s imagine we’re a startup that sells technical literacy and education software to tech businesses (let’s imagine). We’ve got a basic web application, and a little data warehouse for our Growth Lead to report basic company metrics. We might be using:EC2 to deploy our web app in a few Docker containersLambda to process form submissions on the marketing siteEBS for block storage connected to our EC2 instance(s)S3 to store backups and files for the app and marketing siteRoute53 to connect our domain name to our AWS serversRDS (Postgres) as our managed database for our web appCloudfront as our CDN for serving assets quicklyVPC to isolate our resources into a private, secure networkBackup to back up our data across servicesRedshift to store analytics data as our data warehouseThese are just the AWS products that you’ll be using - but there are other parts of the ecosystem that help support this product usage; sort of like the glue that keeps things together.

As you might imagine, working with all of these products can get a bit hairy. It’s hard to understand what’s running, what state it’s in, and what you should use for spinning up new apps or services. 

2) Configuration hell

Each infrastructure product has different configurations. What region should your EC2 instance be in? What’s the timeout for your Lambda function? What size is your EBS instance? 

These configurations are essential to an efficient infrastructure setup, but creating and maintaining them is understandably complex. It doesn’t help that the AWS console is notoriously difficult to work with. 

3) Permissions 

When you’re a small shop with a few developers, it’s OK for everyone to have master access to your infrastructure. But as the team grows, it can get dangerous to be loose with access controls – you’ll want to start giving different developer groups different permission levels. Maybe your platform team has access to adjusting existing configurations, while your application team can only create new instances. 

AWS – and other cloud providers – offer internal IAM (Identity & Access Management) utilities, but they, too, aren’t particularly smooth or easy to use.

4) Multi-cloud

The overwhelming majority of cloud-native enterprises are using multiple cloud providers. Now what multi-cloud actually means in practice is beyond the scope of this piece (how diversified do you need to be?), but suffice it to say that large enterprises are using products from multiple cloud providers. That means multiple UIs and CLIs to manage this stuff, multiple billing portals, etc. This is not fun. 

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In this post

  • 4) Multi-cloud
  • Hashicorp is a layer on top of your infrastructure
  • Infrastructure
  • Security
  • Networking

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