HashiCorp, Inc. is an American

software Software consists of computer programs that instruct the Execution (computing), execution of a computer. Software also includes design documents and specifications. The history of software is closely tied to the development of digital comput ...

company with a

freemium Freemium, a portmanteau of the words "free" and "premium", is a pricing strategy by which a basic product or service is provided free of charge, but money (a premium) is charged for additional features, services, or virtual (online) or physical ( ...

business model based in

San Francisco, California San Francisco, officially the City and County of San Francisco, is a commercial, Financial District, San Francisco, financial, and Culture of San Francisco, cultural center of Northern California. With a population of 827,526 residents as of ...

. HashiCorp provides tools and products that enable developers, operators and security professionals to provision, secure, run and connect

cloud-computing Cloud computing is "a paradigm for enabling network access to a scalable and elastic pool of shareable physical or virtual resources with self-service provisioning and administration on-demand," according to ISO. Essential characteristics ...

infrastructure. It was founded in 2012 by Mitchell Hashimoto and Armon Dadgar. The company name HashiCorp is a portmanteau of co-founder last name ''Hashi''moto and ''Corp''oration. HashiCorp is headquartered in

San Francisco San Francisco, officially the City and County of San Francisco, is a commercial, Financial District, San Francisco, financial, and Culture of San Francisco, cultural center of Northern California. With a population of 827,526 residents as of ...

, but their employees are distributed across the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

Canada Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of coun ...

Australia Australia, officially the Commonwealth of Australia, is a country comprising mainland Australia, the mainland of the Australia (continent), Australian continent, the island of Tasmania and list of islands of Australia, numerous smaller isl ...

India India, officially the Republic of India, is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area; the List of countries by population (United Nations), most populous country since ...

, and

Europe Europe is a continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere. It is bordered by the Arctic Ocean to the north, the Atlantic Ocean to the west, the Mediterranean Sea to the south, and Asia to the east ...

. HashiCorp offers

source-available Source-available software is software released through a source code distribution model that includes arrangements where the source can be viewed, and in some cases modified, but without necessarily meeting the criteria to be called ''open-source ...

libraries and other proprietary products.

History

Armon Dadgar and Mitchell Hashimoto HashiCorp Founders

HashiCorp was founded in 2012 by two classmates from the

University of Washington The University of Washington (UW and informally U-Dub or U Dub) is a public research university in Seattle, Washington, United States. Founded in 1861, the University of Washington is one of the oldest universities on the West Coast of the Uni ...

, Mitchell Hashimoto and Armon Dadgar. Co-founder Hashimoto was previously working on open-source software called

Vagrant Vagrancy is the condition of wandering homelessness without regular employment or income. Vagrants usually live in poverty and support themselves by travelling while engaging in begging, scavenging, or petty theft. In Western countries, ...

, which became incorporated into HashiCorp. On 29 November 2021, HashiCorp set terms for its

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

at 15.3 million shares at $68-$72 at a valuation of $13 billion. It offered 15.3 million shares. HashiCorp considers its workers to be

remote work Remote work (also called telecommuting, telework, work from or at home, WFH as an initialism, hybrid work, and other terms) is the practice of work (human activity), working at or from one's home or Third place, another space rather than from ...

ers first rather than coming into an office on a full-time basis. Around April 2021, a

supply chain attack A supply chain attack is a cyber-attack that seeks to damage an organization by targeting less secure elements in the supply chain. A supply chain attack can occur in any industry, from the financial sector, oil industry, to a government sector. ...

using code auditing tool codecov allowed hackers limited access to HashiCorp's customers networks. As a result, private credentials were leaked. HashiCorp revoked a private signing key and asked its customers to use a new rotated key. Mitchell Hashimoto resigned from the company in December 2023.

Acquisition by IBM

On April 24, 2024, the company announced it had entered into an agreement to be acquired by

IBM International Business Machines Corporation (using the trademark IBM), nicknamed Big Blue, is an American Multinational corporation, multinational technology company headquartered in Armonk, New York, and present in over 175 countries. It is ...

for $6.4 billion, with the transaction expected to close by the end of the same year. This led to the

Competition and Markets Authority The Competition and Markets Authority (CMA) is the principal competition regulator in the United Kingdom. It is a non-ministerial government department in the United Kingdom, responsible for promoting competitive markets and tackling unfair beh ...

of the United Kingdom launching an investigation into the acquisition in late 2024. The deal closed on February 27, 2025 for $6.4 billion after receiving the necessary regulatory approvals.

Products

HashiCorp provides a suite of tools intended to support the development and deployment of large-scale service-oriented software installations. Each tool is aimed at specific stages in the life cycle of a software application, with a focus on automation. Many have a plugin-oriented architecture in order to provide integration with third-party technologies and services. Additional proprietary features for some of these tools are offered commercially and are aimed at enterprise customers. The main product line consists of the following tools: *

(first released in 2010): supports the building and maintenance of reproducible software-development environments via

virtualization In computing, virtualization (abbreviated v12n) is a series of technologies that allows dividing of physical computing resources into a series of virtual machines, operating systems, processes or containers. Virtualization began in the 1960s wit ...

technology. * (first released in June 2013): a tool for building virtual-machine images for later deployment. * Terraform (first released in July 2014): infrastructure as code software which enables provisioning and adapting virtual infrastructure across all major

cloud In meteorology, a cloud is an aerosol consisting of a visible mass of miniature liquid droplets, frozen crystals, or other particles, suspended in the atmosphere of a planetary body or similar space. Water or various other chemicals may ...

providers. *

Consul Consul (abbrev. ''cos.''; Latin plural ''consules'') was the title of one of the two chief magistrates of the Roman Republic, and subsequently also an important title under the Roman Empire. The title was used in other European city-states thro ...

(first released in April 2014): provides

service mesh In software architecture, a service mesh is a dedicated infrastructure layer for facilitating service-to-service communications between services or microservices using a proxy. A dedicated communication layer can provide numerous benefits, such ...

, DNS-based service discovery, distributed KV storage,

RPC RPC may refer to: Science and technology * Rational polynomial coefficient * Reactive Plastic Curtain, a carbon-dioxide-absorbing device used in some rebreather breathing sets * Regional Playback Control, a regional lockout technology for DVDs ...

, and event propagation. The underlying event, membership, and failure-detection mechanisms are provided by Serf, an open-source library also published by HashiCorp. * Vault (first released in April 2015): provides secrets management, identity-based access, encrypting application data and

auditing An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon." Auditing al ...

of secrets for applications, systems, and users. * Nomad (released in September 2015): supports scheduling and deployment of tasks across worker nodes in a cluster. * Serf (first released in 2013): a decentralized cluster membership, failure detection, and

orchestration Orchestration is the study or practice of writing music for an orchestra (or, more loosely, for any musical ensemble, such as a concert band) or of adapting music composed for another medium for an orchestra. Also called "instrumentation", orch ...

software product. * Sentinel (first released in 2017): a policy as code framework for HashiCorp products. * Boundary (first released in October 2020): provides secure remote access to systems based on trusted identity. * Waypoint (first released in October 2020): provides a modern workflow to build, deploy, and release across platforms.

References

External links

* * {{EditAtWikidata , pid=P2037 Software companies based in the San Francisco Bay Area Companies based in San Francisco Free software companies Software companies established in 2012 Software companies of the United States American companies established in 2012 2012 establishments in California 2021 initial public offerings Companies formerly listed on the Nasdaq 2025 mergers and acquisitions IBM acquisitions