US cybersecurity startup Chainguard is in discussions to raise $350m in a funding round led by venture capital firm Kleiner Perkins, reported Bloomberg citing sources.
The new round would increase the company’s valuation to $3.5bn, more than triple the $1.1bn valuation from its previous funding round in July 2024.
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Both Chainguard and Kleiner Perkins have declined to comment on the ongoing discussions, citing the private nature of the information, Bloomberg’s report said.
In July 2024, the company raised $140m in Series C funding round. The funding round was led by Redpoint Ventures, Lightspeed Venture Partners, and IVP.
The company’s existing investors, including Amplify, Mantis VC, Sequoia Capital, and Spark Capital, also participated in the round.
At that time, Sai Senthilkumar, Partner at Redpoint Ventures, said: “Chainguard has reimagined software delivery and consumption and is the safe source for open source software.
“Chainguard Images have extremely strong product market fit and give developers and security teams peace of mind. Chainguard is one of the fastest growing enterprise businesses we have seen in the past several years and we could not be more thrilled to join on this mission to build the industry standard for software security.”
