Seattle-area cybersecurity startup Chainguard landed $280 million in new financing, simply six months after a Series D round pulled in $356 million.
The brand new funding, announced Thursday, comes from Common Catalyst’s Customer Value Fund (CVF).
Based in 2021, Chainguard goals to assist prospects safe their “software program provide chain,” a time period used to explain an organization’s software program manufacturing line.
Chainguard focuses on serving to firms preserve their open supply software program safe and presents instruments to handle container images, a core code part of cloud-based purposes. It has greater than 150 prospects, together with ANZ Financial institution, Canva, GitLab, Hewlett Packard Enterprise, VPBank, and Wiz.
Technically based mostly in Kirkland, Wash., the distant startup has raised $892 million thus far as its valuation has risen past $3.5 billion. The corporate is ranked No. 3 on the GeekWire 200 index of the Pacific Northwest’s high startups, and Chainguard lately landed on LinkedIn’s list of the top 50 startups within the U.S. (at No. 18).
CEO and co-founder Dan Lorenc mentioned the funding will assist speed up the adoption of Chainguard throughout extra firms.
“Open supply powers the world, however the best way it’s delivered and deployed usually introduces danger,” Lorenc mentioned in an announcement. “At Chainguard, we’re flipping that script: we guard open supply from all of the issues that may go unsuitable with it, so engineering groups can construct something they need with it.”
Chainguard CFO Eyal Bar mentioned the partnership with Common Catalyst permits Chainguard “to scale go-to-market funding with out diluting possession or slowing innovation.”
As an alternative of utilizing fairness to fund gross sales and advertising and marketing spend, Common Catalyst gives structured development capital tied on to buyer acquisition and recurring income. The purpose is to let startups like Chainguard protect fairness whereas utilizing outcome-based financing to scale effectively.
Earlier Chainguard traders embrace Amplify, IVP, Kleiner Perkins, Lightspeed Enterprise Companions, Mantis VC, Redpoint Ventures, Sequoia Capital, and Spark Capital.
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