Chainguard Secures $356 Million in Series D Funding to Elevate Software Supply Chain Security
Chainguard, a startup focused on securing the software supply chain, has successfully closed a Series D funding round, raising an impressive $356 million. This investment boosts the company’s valuation to $3.5 billion, highlighting a growing trend as organizations strive to enhance their software development security practices.
Investment Details
The latest funding round was co-led by Kleiner Perkins, a new investor, alongside existing supporter IVP. Other new participants included Salesforce Ventures and Datadog Ventures, along with contributions from all prior investors in the company.
This recent funding round represents significant growth for Chainguard, as its valuation has surged more than threefold from the $1.12 billion it achieved during its previous Series C round, which raised $140 million.
Chainguard’s Mission and Growth
Founded in 2021, Chainguard aims to help businesses securely develop software through the use of guarded open-source solutions, effectively mitigating risks associated with software supply chains. The company has reported an annual recurring revenue (ARR) of $40 million, with aspirations to exceed $100 million in ARR by the close of its 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. He emphasized the company’s vision of creating a future where secure, vulnerability-free open-source software becomes the industry standard.
Continuing Trends in Cybersecurity Funding
The interest in cybersecurity funding remains robust, with significant investments pouring into the sector. For instance, Exaforce recently secured $75 million in a Series A financing round, led by Khosla Ventures, Mayfield Fund, and Thomvest Ventures.
According to data from Crunchbase, total funding for venture capital-backed cybersecurity startups surpassed $2.7 billion in the first quarter, reflecting a 29% increase from the preceding quarter and only a slight decrease from $2.8 billion raised during the same period last year.
