TLDR:
– Chainguard, a software supply chain security startup, raised $140 million in a Series C funding round
– The company’s valuation is now $1.12 billion and it has seen significant growth in the first six months of the fiscal year
Chainguard, a software supply chain security startup, recently raised $140 million in a Series C funding round led by Redpoint, Lightspeed Venture Partners, and IVP. The company, which is valued at $1.12 billion, has experienced substantial growth in the first six months of the fiscal year, with its ARR increasing by over 175% and its customer base growing by more than five times year over year.
Founded in 2021 by Dan Lorenc, Matthew Moore, Kim Lewandowski, and Ville Aikas, Chainguard manages the security of open-source components called container images, providing businesses with more confidence about their software’s security. This allows companies to focus on their core operations while Chainguard handles the constant updating and vigilance required to keep container images secure.
Investors in the Series C round included Amplify, Mantis VC, Sequoia Capital, and Spark Capital, among others. The funding will enable Chainguard to continue scaling and expanding its services. The company’s unique approach to supply chain security has garnered praise from customers, many of whom have integrated Chainguard into their standard operating procedures.
The company’s CEO, Dan Lorenc, has been noted for his unconventional approach, which includes wearing cowboy hats during investor pitches. Despite the success of the Series C round, Lorenc remains focused on the task ahead, emphasizing that the company is constantly striving to improve and grow.
