Chainguard, a cybersecurity startup founded by former Google engineers, has successfully raised $356 million in a Series D funding round led by Kleiner Perkins and IVP. This latest investment elevates the company’s total funding to approximately $612 million since its inception in 2021, and values the firm at an impressive $3.5 billion.
New investors Salesforce Ventures and Datadog Ventures participated in this round, reflecting the growing confidence in Chainguard’s mission to enhance software supply chain security. CEO Dan Lorenc highlighted the company’s rapid growth, noting an expansion of their catalog from 400 to 1,400 pre-secured Linux container images over the past year. This growth has propelled the company’s revenue from $5 million to $40 million, with projections exceeding $100 million in annual recurring revenue for 2025.
Chainguard’s client roster includes prominent organizations such as ANZ Bank, Canva, GitLab, Hewlett Packard Enterprise, Oceaneering International, Snap Inc., Univar Solutions, VPBank, and Wiz. The company’s software factory, an automated build system, continuously patches and signs over 13,000 upstream open-source packages to build the 1,400 container images now offered.
In addition to its core offerings, Chainguard has introduced new products like Chainguard VMs and Chainguard Libraries, aiming to provide secure-by-default solutions across the software stack. Lorenc emphasized the company’s commitment to securing all open-source software, stating, We can’t be the safe source for open source without securing all open source.
This substantial funding round underscores the increasing demand for robust software supply chain security solutions, positioning Chainguard as a leader in the field.
