Chainguard Secures $356 Million in Series D Funding for Software Supply Chain Security
Chainguard, a startup focused on software supply chain security, has successfully raised $356 million in its Series D funding round, elevating its valuation to $3.5 billion. This latest funding reflects the increasing demand among companies for robust measures to secure their software development processes.
Investment Details
The Series D funding was co-led by Kleiner Perkins, a new investor in Chainguard, alongside existing investor IVP. Other participants included Salesforce Ventures and Datadog Ventures, along with all previous investors in the company.
Valuation Milestones
This recent financing marks a significant growth milestone for Chainguard, which saw its valuation triple from $1.12 billion after a previous Series C round that raised $140 million. That round was spearheaded by IVP, along with contributions from Lightspeed Venture Partners and Redpoint.
Chainguard’s Mission and Growth
Founded in 2021, Chainguard is committed to transforming the software development landscape. The firm emphasizes the importance of secure and innovative practices throughout the software supply chain by offering guarded open-source software solutions. According to company reports, Chainguard’s annual recurring revenue (ARR) has reached $40 million, with aspirations to surpass $100 million by the end of fiscal year 2026.
“Chainguard was founded on a simple yet powerful belief that security and innovation should go hand in hand,” stated Dan Lorenc, co-founder and CEO of Chainguard. “Today, Chainguard is paving the way for a future where secure, vulnerability-free open-source software is the standard.”
Continued Investment in Cybersecurity
The positive momentum in cybersecurity funding continues, as demonstrated by Exaforce’s recent $75 million Series A funding round, which was led by Khosla Ventures, Mayfield Fund, and Thomvest Ventures.
According to Crunchbase data, overall funding for VC-backed cybersecurity startups exceeded $2.7 billion in the first quarter, representing a 29% increase compared to the previous quarter of 2024, while just slightly below the $2.8 billion raised during the same period last year.
Conclusion
With a significant injection of capital and an ambitious growth plan, Chainguard is well-positioned to lead innovations in software supply chain security. As the demand for secure software development practices rises, Chainguard’s advancements may set new standards in the industry.