INSUBCONTINENT EXCLUSIVE:
The rise of the cloud over the past decade has forced software developers and DevOps engineers to completely rearchitect the modern web
application, ensuring scalability, performance, and security
brand new massive valuation.The SF-based startup announced today that it has raised $175 million in Series E financing from Franklin
Templeton Investments at a scorching $5.1 billion valuation
round led by growth investor IVP.The company in its release today touted its success in doubling revenues and customers every year for four
straight years as the key reason behind the flush valuation
The company is making a (not so) subtle point that David McJannet, who joined the company as CEO in mid-2016 following a stint as an EIR at
Greylock, has seen some success in his new role.HashiCorp CEO David McJannet
Photo via HashiCorpThe company, founded by Mitchell Hashimoto and Armon Dadgar in 2012, is one of the major pioneers in helping companies
is Terraform, which allows developers to write repeatable rules around enterprise infrastructure rather than a patchwork of different
scripts that might not work as its writers intended
over-provisioning of resources) while also helping to balance scale and performance
touches on a bunch of competitive products, but its cohesive set of tools and strong outreach to the developer community has set itself
apart from the competition in recent years.Franklin Templeton is a fairly late stage investor that has funded such enterprise companies as
Cloudflare, which went public last year, logs management platform SumoLogic, and cybersecurity business Tanium, all according to
Crunchbase.With a hefty $5.1 billion valuation, the company narrowly missed the catastrophic decline of SaaS stocks over the past few weeks,
which have been buffeted by the rapidly spreading global pandemic
But with a new war chest and a focus on a popular and growing enterprise market, the company seems poised to continue its growth.
