HashiCorp Raises $24M for DevOps Security
HashiCorp's Vault Enterprise product is now generally available for security secrets management.HashiCorp announced Sept. 7 a new $24 million Series B round of investment and the general availability of its Vault Enterprise secrets management platform. The new funding will be used to help grow HashiCorp's sales, marketing and engineering efforts as the company continues to evolve its DevOps platform. Investors in the Series B funding include GGV Capital, Mayfield, True Ventures and Redpoint, bringing total funding to date for HashiCorp to $34 million. HashiCorp's last funding event was in December 2014, when the company raised $10 million in a Series A round of funding. "We're now starting to see adoption by large enterprises and government groups, so as more mission-critical applications are being built on our tools, we wanted to make sure that we can support those customers," Armon Dadgar, co-founder and CTO of HashiCorp, told eWEEK. Back in 2014 when HashiCorp raised its Series A round of funding, the company announced the Atlas platform as its primary commercial product. The initial idea behind Atlas was to provide a complete DevOps platform that could help an enterprise from development through deployment.
That strategy has evolved in 2016, as HashiCorp realized it is difficult for organizations to buy and deploy an entire platform. So HashiCorp broke up Atlas into three layers that align to different parts of an organization, according to Dadgar. Its Nomad Enterprise product aligns with development teams to build and ship applications. Terraform Enterprise focuses on operator workloads and how to manage workloads across an infrastructure. And Vault Enterprise, which launched today, focuses on the security engineering team.