Total amount raised
$256 Millions
Latest funding date
7/1/2024
Location
Chainguard has successfully raised significant funding through multiple rounds, with notable investors such as Amplify Partners and MANTIS Venture Capital. The company specializes in providing secure, low-to-zero CVE container images and other tools aimed at enhancing software supply chain security.
Keep reading to explore the intricacies of Chainguard's fundraising journey and the investors backing this innovative platform.
What Is Chainguard?
Chainguard, founded in October 2021, is based in Kirkland, Washington. The company was established by Dan Lorenc, Kim Lewandowski, and Ville Aikas.
Specializing in secure, low-to-zero CVE container images, Chainguard aims to enhance software supply chain security. Their products include Chainguard Images, Sigstore, SLSA, and Wolfi.
With a team of 101-250 employees, Chainguard focuses on providing secure, vulnerability-free open-source software, empowering teams to build the future instead of patching the past.
How Much Funding Has Chainguard Raised?
- Seed Round
- Amount Raised: $5M
- Date: December 2021
- Lead Investors: Amplify Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop initial product offerings.
- Series A
- Amount Raised: $50M
- Date: June 2022
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $61M
- Date: November 2023
- Lead Investors: Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Series C
- Amount Raised: $140M
- Date: July 2024
- Lead Investors: IVP, Lightspeed Venture Partners, Redpoint
- Valuation at Round: $1.12 billion
- Motivation Behind the Round: To expand product offerings to secure AI workloads and grow international market presence.
Total Amount Raised: $256M. Current Valuation: $1.12 billion.
Key Investors
- Redpoint Ventures
- Details: Redpoint Ventures is a venture capital firm that invests in technology startups. They focus on early-stage companies and have a strong track record in the enterprise software and consumer internet sectors.
- Investment Focus Areas: Enterprise software, consumer internet, infrastructure.
- Notable Investments: Netflix, Stripe, Twilio.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a multi-stage venture capital firm. They invest in the enterprise, consumer, and health sectors, supporting companies from seed to growth stages.
- Investment Focus Areas: Enterprise technology, consumer, health sectors.
- Notable Investments: Snap, Affirm, MuleSoft.
- IVP (Institutional Venture Partners)
- Details: IVP is a later-stage venture capital and growth equity firm. They focus on investing in rapidly-growing technology companies.
- Investment Focus Areas: Later-stage venture capital, growth equity.
- Notable Investments: Twitter, Dropbox, Slack.
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that partners with founders to build enduring companies. They have a broad investment focus across technology, healthcare, and consumer sectors.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Apple, Google, WhatsApp.
- Spark Capital
- Details: Spark Capital is a venture capital firm that invests in early and growth-stage companies. They focus on technology, media, and entertainment sectors.
- Investment Focus Areas: Technology, media, entertainment.
- Notable Investments: Twitter, Oculus, Slack.
What's Next for Chainguard?
Chainguard is poised to capitalize on several significant opportunities. The expansion of Chainguard Images to secure AI workloads and the company's foray into international markets and the Federal sector present vast growth potential. With a 5X increase in its customer base and a 175% rise in Annual Recurring Revenue, the company is well-positioned to leverage these opportunities.
Future fundraising efforts could be substantial, given the company's rapid growth and increased valuation. Additional funding rounds may support further expansion and innovation, particularly in AI and software security. However, Chainguard will need to navigate challenges such as managing the complexity of vulnerability management and meeting intensifying regulatory requirements. Ensuring continued innovation while maintaining a secure foundation will be crucial for sustained success.
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