Hashicorp files for IPO on the New York Stock Exchange

The US software company is reportedly aiming for a valuation of almost $10bn

Cloud software vendor Hashicorp has filed for a US initial public offering on the New York Stock Exchange under the symbol HCP.

The California-HQ company said the number of shares to be offered and the price range for the proposed offering have not yet been determined.

However, Reuters has reported the company is aiming for a valuation of almost $10bn (€8.6bn), citing a source familiar with the matter.

Hashicorp has completed five rounds of funding since it first formed in 2012.

Most recently the vendor raised $175m (€151m) in a Series E funding round in March 2020, valuing the company at $5.1bn (€4.4bn).

The round was led by Franklin Templeton and included participation from funds and accounts advised by T. Rowe Price Associates, Inc., Geodesic Capital, as well as existing HashiCorp investors GGV Capital, IVP, Mayfield, Redpoint Ventures, and True Ventures.

Hashicorp claimed at the time it had experienced more than 100 percent year on year revenue growth for four consecutive years, and more than doubled its customer base each year during the same period.

Morgan Stanley, Goldman Sachs & Co, J.P. Morgan, Bofa Securities and Citigroup are acting as book-running managers on the current offering.