Cybersecurity start-up Chainguard has secured $356m in its Series D funding round, boosting its valuation to $3.5bn.

The round was co-led by new backer Kleiner Perkins and existing investor IVP, with participation from Salesforce Ventures, Datadog Ventures and all existing investors.

The latest raise brings Chainguard’s total funding to $612m.

The company, which focuses on secure-by-design solutions for software supply chains, said the new capital will be used to support product innovation, go-to-market expansion, and further growth across Europe, the Middle East and Africa and Asia-Pacific.

Chainguard CEO and co-founder Dan Lorenc said: “Chainguard was founded on a simple yet powerful belief that security and innovation should go hand in hand.

“Today, Chainguard is paving the way for a future where secure, vulnerability-free open source software is the standard. In this next chapter of growth, we are not just scaling our business – we are fundamentally changing how software is built and secured from the ground up.”

The start-up provides “guarded” open source software that is built from source and continuously updated, helping organisations to mitigate risks within their software supply chains.

Chainguard reported a sevenfold increase in annual recurring revenue (ARR) to $40m in fiscal year 2025 (FY25) and is targeting more than $100m in ARR by the end of FY26.

Chainguard’s clientele includes Anduril, ANZ Bank, Canva, GitLab, Hewlett Packard Enterprise, MAN Energy Solutions, Snap, Snowflake and Wiz.

The company’s venture backing includes investors such as Amplify, IVP, Kleiner Perkins, Lightspeed Venture Partners, Mantis VC, Redpoint Ventures, Sequoia Capital and Spark Capital.

In July 2024, the company raised $140m in a Series C funding round. The funding round was led by Redpoint Ventures, Lightspeed Venture Partners and IVP.