Open source is supercharged with the latest software development. About 90% of today’s production code is drawn from public repositories, turning what took a week into something that was shipped in just a few hours by developers. But there’s a catch. He’s the person the team feels every day. That speed comes with security trade-offs, forcing some of the smartest engineers in the room to spend time patching vulnerabilities rather than building the next big thing.
That’s exactly the problem Chainguard is building to solve.
Today, the security startup four years ago announced a $356 million Series D round, pushing its valuation to $3.5 billion. Kleiner Perkins and IVP led the round, with Salesforce Ventures, Datadog Ventures and all existing supporters taking part. The pay raise will bring Chainguard’s total funding to $612 million.
The latest capital injection will increase its presence in regions such as EMEA and APAC, where demand for product development, market expansion and infrastructure security continues to grow.
Chainguard’s $3.5 billion valuation: Solves massive open source security
Founded in 2021 by Matthew Moore, Vil Eicas, Kim Lewandowski and Dan Lawrence, Chainggard has grown rapidly by addressing the points of great pain. Keep modern software systems safe from the start, rather than keeping them patched later. The company offers a variety of tools that help organizations lock down their software supply chain. This is an area that has attracted serious attention in recent years following the rise in famous violations and scrutiny of software integrity.
CEO Dan Lorenc said, “Chainguard was founded on the simple yet strong belief that security and innovation are closely linked.” He added that the company is aiming to change the way it protects the way it builds software “from the ground up.”
And that’s not just a story. Chainguard expects to continue to increase revenue seven times more than $100 million in 2025, repeatedly seven times more per year. Customers include companies such as Canva, Gitlab, Anduril, Hewlett-Packard Enterprise, and Snap.
The company’s core product, Chainguard Containers, has over 150 customers. Recently, we have introduced a new product that includes Chainguard VMS (recent vulnerabilities-free virtual machine images) and the Chainguard library, a collection of secure Java libraries built entirely from sources.
Large clients are already seeing results. “We’re committed to providing a range of services to our customers,” said Dylan Shepard, Senior Lead Platform Engineer at Booz Allen. Snap’s security engineering manager Shrikant Pandhare pointed out that Chainguard’s tools reiterated the value of its tools, helping to “drive vulnerabilities” and provided the “Solid Technology Foundation.”
Even with some pullbacks for tech funding, cybersecurity, particularly those offering aggressive solutions, still attracts serious checks. Last month, AI-powered cybersecurity company ReliaQuest raised more than $500 million at a valuation of $3.4 billion, Reuters reported.
Chainguard appears to be riding the same wave. Its strong traction, well-known clients and a focus on security fundamentals is enough to keep investors focused.
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