Red Hat
Part of IBM since 2019
Red Hat is a Cloud Management & Multicloud company founded in 1993 and based in Raleigh, United States. It has been part of IBM since 2019.
Red Hat was founded in 1993 by Bob Young and Marc Ewing and is headquartered in Raleigh, North Carolina. It builds enterprise software on open-source projects, including Red Hat Enterprise Linux, the OpenShift application platform built on Kubernetes, the Ansible Automation Platform and Red Hat AI, and sells it to enterprises through subscriptions. OpenShift runs on customer infrastructure or as managed services, including editions run jointly with AWS and Microsoft and versions on Google Cloud and IBM Cloud. IBM bought Red Hat for $190 per share in cash, about $34 billion in equity value, in a deal that closed on July 9, 2019, and Red Hat operates as a distinct unit within IBM, led by President and CEO Matt Hicks. The Register reported that Red Hat grew 11% in the quarter ended Sept. 30, 2026, and that its virtualization products had won $800 million of deals, with a further $750 million in pipeline.
OpenShift gives enterprises one Kubernetes platform across their own data centers and AWS, Microsoft Azure, Google Cloud and IBM Cloud, which puts Red Hat in hybrid-cloud deals alongside the hyperscalers in this sector. OpenShift Virtualization runs traditional virtual machines next to containers, and by October 2026 Red Hat's virtualization products had won $800 million of deals as some VMware users moved. Red Hat says 90% of Fortune 500 companies use its technology.
At a glance
Total raised
Undisclosed
Headcount
10k+
Headquarters
Raleigh
United StatesFounded
1993
Status
Subsidiary
Subsector
Cloud & Edge Computing, ranked
Top 25 Cloud & Edge Computing companies →Funding history
Total raised
—
Rounds tracked
0
No dated funding rounds on file. This company is privately held and may be raising or operating on undisclosed capital.
