Chainguard Secures $356 Million to Transform Software Security
Chainguard Secures $356 Million in Series D Funding
Chainguard has successfully raised $356 million in Series D funding, a move that significantly strengthens its position as a leading provider of secure software infrastructure. The company is currently valued at an impressive $3.5 billion. This funding round was co-led by impressive firms, including Kleiner Perkins and existing investor IVP, alongside new contributors like Salesforce Ventures and Datadog Ventures, showcasing widespread confidence in Chainguard's vision and products.
Funding Utilization and Growth Projections
This fresh influx of capital is expected to catalyze further product innovation and expansion. Chainguard has experienced explosive growth recently, particularly as companies seek secure-by-design infrastructure for safeguarding their software supply chains. The company’s annual recurring revenue (ARR) now stands at $40 million, with ambitious projections to exceed $100 million by the end of fiscal year 2026.
Investment in Innovation and Market Expansion
To meet the rising demand for secure solutions, Chainguard plans to utilize the raised funds to enhance its product offerings, scale its go-to-market muscle, and improve its foothold in regions such as EMEA and APAC. This strategic approach is designed to boost overall company growth while ensuring that clients gain access to the latest in software security innovations.
A Focus on Customer-Centric Development
The company’s commitment to customer needs plays a crucial role in its development process. One of the flagship products, Chainguard Containers, has garnered over 150 customers, a milestone that underscores the effectiveness of Chainguard in delivering secure solutions. Additionally, the introduction of Chainguard VMs—focused on offering minimal, zero-CVE virtual machine images from the source—denotes a significant advancement in the product line.
Statements from Company Leadership
According to Dan Lorenc, CEO and Co-founder of Chainguard, the company stands firmly on the belief that security must go hand in hand with innovation. He emphasizes that the ultimate goal is not merely to scale the business but to fundamentally change how software is developed and secured.
Benefits for Organizations
Chainguard empowers engineering teams to enhance their efficiency and maintain constant compliance, ultimately improving security and reliability. Esteemed global organizations such as ANZ Bank, GitLab, and Snap Inc. actively utilize Chainguard to fortify their software supply chains.
Client Testimonials
Dylan Shepard, Senior Lead Platform Engineer at Booz Allen, underscores the importance of Chainguard's offerings for meeting stringent defense industry requirements. Their secure container images help clients maintain compliance while managing operational burdens effectively, allowing them to deliver critical solutions swiftly and securely.
Meanwhile, Shrikant Pandhare, Security Engineering Manager at Snap Inc., highlights how Chainguard supports secure application development, ultimately enabling rapid innovation and user trust.
Commitment to Security Standards
Leading industry figures have lauded Chainguard for its role in promoting secure software development practices. Mamoon Hamid of Kleiner Perkins remarks on Chainguard's unique position in defining a new category of secure software solutions, allowing organizations to prioritize security alongside innovation.
Strategic Partnerships
The partnership between Chainguard and firms like Salesforce Ventures exemplifies the alignment of strategic goals in enhancing security and compliance solutions within organizations. Bharat Sajnani from Datadog emphasizes the value of Chainguard in integrating security directly into the software development workflow, enabling companies to leverage their engineering resources more effectively.
About Chainguard
Chainguard creates a secure foundation for software development and deployment through its comprehensive offerings. By continually updating guarded open source software built directly from source, Chainguard plays a pivotal role in eliminating security threats within software supply chains. The company's impressive customer roster includes Fortune 500 companies and industry frontrunners, solidifying its reputation as a trusted security partner.
Frequently Asked Questions
What recent funding has Chainguard received?
Chainguard raised $356 million in Series D funding, increasing its valuation to $3.5 billion.
Who are some key investors in this funding round?
The funding round was co-led by Kleiner Perkins and IVP, with newcomers like Salesforce Ventures and Datadog Ventures also participating.
How does Chainguard support software development?
Chainguard offers secure infrastructure that enhances security and efficiency, allowing engineering teams to build and maintain secure applications quickly.
What are some of Chainguard’s notable products?
Chainguard's notable products include Chainguard Containers and Chainguard VMs, both designed to enhance security in software development.
How can companies benefit from partnering with Chainguard?
Companies benefit by gaining access to secure software that integrates seamlessly into their development workflows, ultimately reducing risks and ensuring compliance.
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