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Enterprise Cloud

Cloud Startup HashiCorp Valued at $1.9 Billion After New Funding

HashiCorp, a six-year-old startup that sells software that developers use to build and launch applications on multiple cloud providers, announced a $100 Series D round led by IVP, the company said in a press release. Despite being valued at $1.9 billion, Hashicorp has somehow been flying under the radar in the cloud market. But the startup is getting more attention because it is positioned at the confluence of two major industry trends: The practice of companies combining software development and IT operations, known as “devops,” and the shift to companies using multiple cloud providers. 

HashiCorp is also an open-source software company at a time when interest in this segment is arguably at an all-time high, as evidenced by Salesforce’s $6.5 billion acquisition of Mulesoft in March; Microsoft’s $7.5 billion purchase of GitHub in June; and IBM’s $34 billion acquisition of Red Hat, which was announced Sunday. 

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