Chainguard Raises $280M to Expand Open Source Security Platform

Seattle-area cybersecurity startup Chainguard has secured $280 million in fresh funding, strengthening its position as one of the fastest-growing companies focused on protecting open source software. The investment comes only six months after the company raised $356 million in its Series D financing round, highlighting continued investor confidence in its growth.

The latest funding, announced on Thursday, was provided by General Catalyst’s Customer Value Fund (CVF). Unlike traditional venture investments, this financing model is designed to support customer acquisition and business expansion without requiring startups to give up additional ownership.

Founded in 2021, Chainguard helps organizations secure their software supply chain—the collection of tools, code, and processes used to develop and deliver software. As businesses increasingly depend on open source technologies, protecting these components has become a major cybersecurity priority.

The company specializes in securing open source software and provides tools that help businesses manage container images, which are key building blocks of modern cloud-based applications. Chainguard now serves more than 200 customers, including ANZ Bank, Canva, GitLab, Hewlett Packard Enterprise, VPBank, and Wiz.

Although officially based in Kirkland, Washington, Chainguard operates as a remote-first company with a workforce of more than 500 employees. Since its launch, the startup has raised a total of $892 million and reached a valuation of $3.5 billion.

The company’s rapid rise has also earned industry recognition. Chainguard currently ranks No. 3 on the GeekWire 200 list of the Pacific Northwest’s leading startups and recently secured the No. 18 spot on LinkedIn’s ranking of the Top 50 U.S. Startups.

Financially, Chainguard reported impressive momentum during fiscal year 2025, saying its annual recurring revenue (ARR) increased sevenfold to $40 million. The strong growth reflects rising demand for cybersecurity solutions that help companies safely use open source software while reducing security risks.

CEO and co-founder Dan Lorenc said the new capital will help expand Chainguard’s reach and accelerate adoption among more organizations.

“Open source powers the world, but the way it’s delivered and deployed often introduces risk,” Lorenc said. “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.”

Chief Financial Officer Eyal Bar added that the partnership with General Catalyst allows the company to increase its sales and marketing efforts while avoiding unnecessary ownership dilution and continuing to invest in innovation.

General Catalyst’s Customer Value Fund takes a different approach from conventional venture funding. Rather than purchasing more equity, it provides structured growth capital linked to customer acquisition and recurring revenue. This model enables startups like Chainguard to scale more efficiently while preserving shareholder ownership.

Chainguard has also attracted backing from several well-known venture capital firms throughout its growth journey. Previous investors include Amplify, IVP, Kleiner Perkins, Lightspeed Venture Partners, Mantis VC, Redpoint Ventures, Sequoia Capital, and Spark Capital.

With nearly $900 million raised to date, a multibillion-dollar valuation, and growing demand for software supply chain security, Chainguard is continuing to strengthen its position as a major player in the cybersecurity industry while helping enterprises build and deploy open source software more securely.

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