LangChain has raised $125 million at a valuation of $1.25 billion, the company announced on Monday. TechCrunch reported in July that the provider of a popular open source framework for building AI agents was raising new funding at a valuation of at least $1 billion. As previously reported, the transaction was led by IVP. New investors CapitalG and Sapphire Ventures participated, along with existing investors Sequoia, Benchmark and Amplify.
LangChain began in 2022 as an open source project founded by machine learning engineer Harrison Chase. The startup was an early darling of the AI era, solving problems that made building apps with early-stage LLMs difficult, such as searching the web, calling APIs, and interacting with databases. It became a blockbuster project, and Chase launched the startup with a $10 million seed round from Benchmark in April 2023. A week later, Chase raised a $25 million Series A led by Sequoia, reportedly valuing Langchain at $200 million.
As leading model makers add infrastructure, LangChain has evolved into a platform for building agents. In addition to announcing unicorn status, the company has launched updates to all of its major products, including agent builder LangChain, orchestration and context/memory tool LangGraph, and testing/observability tool LangSmith. LangChain remains extremely popular among open source developers, with 118,000 stars and 19.4 forks on GitHub.
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