July 25, 2024 at 12:45PM
Chainguard, a software supply chain security startup, raised $140 million in a new financing round, reaching a valuation in excess of $1 billion. The company, founded by ex-Google engineers, has raised a total of $256 million since its launch in late 2021. The funding will be used to expand into the U.S. public sector and international markets.
Key Takeaways from Meeting Notes:
– Chainguard, a software supply chain security startup, has recently raised $140 million in a Series C round of financing, bringing the total funds raised to $256 million since its launch in late 2021.
– The latest financing round values the company at over $1.12 billion.
– The growth is attributed to the demand for its flagship product, Chainguard Images, and the plan to expand technology to secure AI workloads.
– Chainguard aims to use the fresh capital for expansion into the U.S. public sector and international markets, as well as to scale its product suite to provide a secure source for any open source software.
– Chainguard’s CEO, Dan Lorenc, emphasized that the company is focused on providing a secure software supply chain, updating and patching open source software as quickly as possible.
– Previous funding rounds include a $50 million Series A and a $61 million Series B.
– The company was founded by a group of ex-Google software engineers and has received financing from Redpoint Ventures, Lightspeed Venture Partners, IVP, Sequoia Capital, Spark Capital, and Mantis VC.
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