Summary:
Chainguard raised $280 million in new funding from General Catalyst, just six months after a $356 million Series D round
The startup focuses on securing the software supply chain and protecting open source software with tools for container images
Chainguard has over 200 customers, a $3.5 billion valuation, and grew its annual recurring revenue seven times to $40 million in FY2025
CEO Dan Lorenc aims to accelerate adoption and reduce risks in open source deployment for engineering teams
Funding from General Catalyst uses structured growth capital to scale without equity dilution, preserving ownership for innovation
Chainguard's Rapid Growth in Cybersecurity
Seattle-area cybersecurity startup Chainguard has secured $280 million in new financing, coming just six months after a Series D round raised $356 million. This latest funding, announced on Thursday, is provided by General Catalyst’s Customer Value Fund (CVF).
Chainguard CEO Dan Lorenc. (Chainguard Photo)
Founded in 2021, Chainguard specializes in securing the software supply chain, which refers to a company's software production line. The company focuses on helping businesses keep their open source software secure and offers tools to manage container images, a fundamental component of cloud-based applications. Chainguard boasts over 200 customers, including ANZ Bank, Canva, GitLab, Hewlett Packard Enterprise, VPBank, and Wiz.
Based in Kirkland, Wash., the remote startup employs more than 500 people and has raised a total of $892 million to date, with its valuation now at $3.5 billion. Chainguard ranks No. 3 on the GeekWire 200 index of the Pacific Northwest’s top startups and recently made LinkedIn’s list of the top 50 startups in the U.S., coming in at No. 18.
In fiscal year 2025, Chainguard reported that its annual recurring revenue grew seven times to $40 million.
CEO and co-founder Dan Lorenc emphasized the importance of this funding, stating, "Open source powers the world, but the way it’s delivered and deployed often introduces risk. At Chainguard, we’re flipping that script: we guard open source from all the things that can go wrong with it, so engineering teams can build anything they want with it."
CFO Eyal Bar highlighted the strategic partnership with General Catalyst, noting that it enables Chainguard "to scale go-to-market investment without diluting ownership or slowing innovation." Instead of using equity for sales and marketing, General Catalyst provides structured growth capital tied directly to customer acquisition and recurring revenue, allowing startups to preserve equity while scaling efficiently.
Previous investors in Chainguard include Amplify, IVP, Kleiner Perkins, Lightspeed Venture Partners, Mantis VC, Redpoint Ventures, Sequoia Capital, and Spark Capital.
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