The deal will roughly triple Chainguard's value compared to last year's financing deal, highlighting the growing need for secure software development tools.
Kirkland, Washington-based startup Chainguard raised $140 million at a $1.1 billion valuation in July from investors including Redpoint Ventures, Lightspeed Venture Partners and IVP. “Chainguard is one of the fastest-growing enterprise businesses we’ve seen in the last few years,” Redpoint partner Sai Senthilkumar said in a statement.
The company, which positions itself as a secure way to develop open-source software and future artificial intelligence applications, counts technology companies such as Anduril Industries Inc., Hewlett Packard Enterprise Co. and Snowflake Inc. among its clients.
Source: Bloomberg
