Software supply chain security startup Chainguard raised a massive $356 million Series D at a valuation of $3.5 billion as companies look for ways to secure software development.
The new funding was co-led by new investor Kleiner Perkins and existing investor IVP. New investors Salesforce Ventures 1 and Datadog Ventures, plus all other existing investors also participated in the round, the company says.
The new valuation is a more than threefold increase from the $1.12 billion valuation the company received after a $140 million Series C led by IVP, Lightspeed Venture Partners and Redpoint.
Chainguard allows companies to securely build software, providing guarded open-source software and eliminating threats in the software supply chains. The company has grown its annual recurring revenue to $40 million and plans to reach more than $100 million in ARR before the end of fiscal year 2026.
“Chainguard was founded on a simple yet powerful belief that security and innovation should go hand in hand,” said co-founder and CEO Dan Lorenc. “Today, Chainguard is paving the way for a future where secure, vulnerability-free open-source software is the standard.”
Founded in 2021, Chainguard has raised $612 million, per the company.
Funding to cyber
Funding to cybersecurity continues to be strong. Just last week, Exaforce locked up a $75 million Series A funding led by Khosla Ventures, Mayfield Fund 2 and Thomvest Ventures.
Funding in general to VC-backed cyber startups topped $2.7 billion in Q1, per Crunchbase data. That’s a 29% increase from the last quarter of 2024, and just a slight dip from the $2.8 billion raised in the same quarter last year.
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