HashiCorp raises $40M for its cloud infrastructure automation services
Summary
Today, the company announced that it has raised a $40 million Series C funding round led by existing investors GGV Capital and Redpoint, with Mayfield and True Ventures also participating. This means adding the necessary features to enable teams to collaborate on Terraform, for example, or to add governance tools and support for audit trails — the kind of services that enterprises are looking for. “We orient around organizational complexity,” McJannet explained, and likened the company’s approach to how GitHub relates to the git protocol. We reduce the friction of cloud adoption — and that’s good for the market.” Over the last 18 months or so, the company has seen its growth accelerate — especially with regard to getting contracts with larger enterprises. We take this responsibility really seriously.” While HashiCorp plans to grow across the board, the company tells me that it will also expand its presence in Europe and Asia.
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