November 1, 2023 at 11:46AM
Chainguard, a supply chain security startup founded by former Google engineers, has secured $61 million in Series B financing led by Spark Capital. This brings their total venture capital investments to $116 million. Their flagship product, Chainguard Images, has gained traction among Fortune 500 companies and technology providers. Chainguard aims to address the security needs of open source software, which has not kept pace with its adoption. The company has expanded its Images product to include secure container images and an API for vulnerability tracking and software supply chain security requirements.
Key takeaways from the meeting notes:
1. Chainguard, a security startup founded by former Google engineers, has raised $61 million in new financing for its supply chain security solutions.
2. The funding round was led by Spark Capital, with participation from previous investors including Sequoia Capital, Amplify Partners, The Chainsmoker’s Mantis VC, and Banana Capital.
3. Since its launch in December 2021, Chainguard has raised a total of $116 million in venture capital investments.
4. Chainguard’s flagship product, Chainguard Images, has gained traction among developers for its secure and minimalistic container images.
5. The company has experienced significant growth in the second half of the year, with its annual recurring revenue (ARR) tripling.
6. Chainguard’s customer base includes Fortune 500 companies and technology providers such as GitGuardian, Hewlett Packard Enterprise, Sourcegraph, Snowflake, and Replicated.
7. Chainguard CEO Dan Lorenc emphasizes the responsibility of adopting open source software and the need for better open source security solutions.
8. Chainguard has expanded its Images product to include a large inventory of secure container images and an API for tracking vulnerability status and software supply chain security requirements.
9. The meeting notes include related articles highlighting Chainguard’s focus on software supply chain security and the industry’s recognition of its solutions.