Chainguard, a supply chain security startup based in Kirkland, Washington, is making significant strides in the industry. Led by ex-Google Cloud engineer Dan Lorenc, the company recently closed a Series C funding round, raising $140 million to support AI workloads and expand its open-source software catalog. This funding comes just eight months after completing a $61 million Series B round, tripling Chainguard’s valuation to $1.12 billion.

The company, founded in 2021, has seen a surge in demand for its services and strong performance in recent quarters. With a focus on automation and the development of a comprehensive software factory, Chainguard aims to continue delivering high-performance, secure solutions to its customers. The latest round of funding was led by Redpoint Ventures, Lightspeed Venture Partners, and JVP.

Chainguard has big plans for expansion, both internationally in Europe and in the U.S. public sector. The company intends to leverage the funding to ramp up its sales and marketing efforts, ensuring operational stability and growth through aggressive hiring and increased sales through late 2025. With a focus on enhancing customer satisfaction and value delivery, Chainguard aims to streamline AI workloads with GPU acceleration and automation, simplifying complex configurations and maximizing performance.

Dan Lorenc attributes Chainguard’s success to strong product-market fit, product readiness, and positive customer feedback, creating a flywheel effect that drives growth and innovation. He emphasized the importance of building lasting relationships with customers to avoid surprises and maintain long-term partnerships. With the rapid adoption of AI workloads, especially in regulated environments and large enterprises, Chainguard is poised to meet the evolving security needs of these sectors.

The company’s decision to expand internationally in Europe and target the U.S. public sector aligns with the growing demand for efficient and secure solutions in these regions. European regulations and cyber requirements drive the need for advanced security measures, making Chainguard’s technology a valuable asset. Additionally, the rapid adoption of containers in the U.S. public sector, particularly with the use of Kubernetes, presents new opportunities for the company to expand its software catalog and support critical applications.

As Chainguard navigates this expansion and growth phase, success metrics will focus on achieving growth targets over the next 18 months, ensuring rapid customer acquisition and market expansion. The company’s primary competition stems from internal engineering teams within companies, as the decision to build or buy security solutions is a key consideration for potential customers. By investing in automation and scalability, Chainguard aims to provide cost-effective and reliable solutions that meet the evolving needs of its customer base.

Overall, Chainguard’s successful Series C funding round marks a significant milestone for the company as it continues to innovate and expand its global presence. With a strong focus on AI workloads, automation, and customer satisfaction, Chainguard is well-positioned to lead in the supply chain security industry and provide cutting-edge solutions to a diverse range of customers.

Source link