User:InfrastructureForever/draft

Proposed Draft History Section
HashiCorp was founded in 2012 by two classmates from the University of Washington, Mitchell Hashimoto and Armon Dadgar. Cofounder Hashimoto was previously working on open-source software called Vagrant, which became incorporated into HashiCorp. The cofounders also developed several other open-source projects besides HashiCorp. By 2018, HashiCorp's open-source software tools had been downloaded 45 million times.

HashiCorp raised $349.2 million in venture capital investments over five funding rounds. This included a $100 million investment in 2018 that valued the business at $1.9 billion, and a $175 million 2020 investment in its fifth funding round valuing HashiCorp at $5.1 billion. According to the company, it was growing quickly, doubling its sales each year for four years. It grew 75% in 2021 compared to the prior year.

Around April 2021, a supply chain attack 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.

On 29 November 2021, HashiCorp set terms for its IPO at 15.3 million shares at $68-$72 at a valuation of $13 billion. It offered 15.3 million shares. By this time, the company had 2,392 customers, but was not yet profitable. HashiCorp considers its workers to be remote workers first rather than coming into an office on a full-time basis.