Kirkland, USA-based Chainguard, the leader in software supply chain security, today completed a USD 61 million Series B round. The round took place on October 31, 2023. Spark Capital and existing investors such as Sequoia Capital, Amplify Partners, The Chainsmoker’s Mantis VC, and Banana Capital led the financing for the company.
Purpose of financing for Chainguard
With the latest financing from Series B, the company has plans to support growth by expanding the global go-to-market team. It also seeks to invest in product research and innovation. Meanwhile, the company looks forward to expanding customer support services.
What the company’s official has to add
Dan Lorenc, CEO and Co-founder of Chainguard said, “The future is clear – if you adopt open-source software, you are responsible for securing it. Chainguard is on a mission to be the safe source for open source that every organization building software today can rely on to build right, build safe and build fast. Open-source adoption across the industry has grown dramatically over the last several years, but the gap in doing so securely is widening. Enterprises and governments are struggling to remain compliant and secure while the pace of software development is increasing.”
What the investors have to comment
Clay Fisher, General Partner at Spark Capital, further said, “Enterprises do not want another software security tool; they want secure software. Chainguard has fundamentally re-imagined open source security by not just alerting customers of possible vulnerabilities but also proactively fixing them, giving developer and security teams peace of mind and time to do what they do best – build. There is nothing like Chainguard in the market today, and we could not be more excited to support them on their important mission to be the safe source for open-source software.”
In addition, Brandon Sterne, Senior Manager of product Security at Snowflake, said, “Snowflake is on a mission to help organizations scale their cloud businesses securely. Adoption of Chainguard Images has transformed the way our team builds securely with open source software across the organization and has helped to streamline and strengthen our FedRAMP certifications by providing fast open source vulnerability remediation.”
About Chainguard
In 2021, Dan Lorenc, Kim Lewandowski, and Ville Aikas launched the company. Chainguard Images is a core offering of the company. It is a comprehensive collection of minimal container images which have 97.6% fewer vulnerabilities as compared to the industry alternatives. Fortune 500 companies trust Chainguard’s offerings in the financial services and technology sectors to cutting-edge startups and SBMs. Its customers boast of giants such as the Department of Homeland Security, GitGuardian, Hewlett Packard Enterprise, Snowflake, Sourcegraph, Replicated and more.
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