Chainguard announced a $61 million Series B on November 1, 2023, led by Spark Capital. The round brought its reported fundraising to $116 million at the time. It is not the latest financing reported in the sources cited here: in April 2025, Chainguard’s CEO announced a subsequent $356 million Series D at a stated $3.5 billion valuation.
Who invested in Chainguard’s Series B?
Chainguard announced the round on November 1, 2023. Spark Capital led it; Sequoia Capital, Amplify Partners, The Chainsmokers’ Mantis VC, and Banana Capital also participated. The company said the financing brought total fundraising to $116 million. These figures come from Chainguard’s announcement distributed by PR Newswire.
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The release also said annual recurring revenue had tripled over the preceding six months. That is a company-reported growth claim, not an independently verified measure.
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1Scan for outdated or missing drivers - takes under a minute2Repair Windows errors before they cause bigger problems3Fix the driver behind crashes, sound loss and screen glitchesWhat does Chainguard do?
Chainguard sells software and services focused on building and maintaining secure software components. Its 2023 funding announcement centered on Chainguard Images, hardened container images intended for use in software development and deployment. Chainguard said Images had passed one million builds and offered an API to track vulnerability-status changes between image versions, along with software bills of materials (SBOMs) and software signatures. These are company-reported product and adoption statements from 2023.
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Chainguard co-founder and CEO Dan Lorenc framed the company’s premise this way: “The future is clear – if you adopt open source software you are responsible for securing it.” The statement appeared in the 2023 funding announcement.
Chainguard’s current company description presents a broader portfolio than container images alone, including hardened, verifiable builds across containers, virtual machines (VMs), libraries, packages, agent skills, and actions. In an April 2025 update, Lorenc described the Chainguard Factory as building, patching, updating, testing, and hardening packages and Git repositories used to make container images; he also said the company had introduced VMs and Libraries.
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Is the $61 million Series B still Chainguard’s latest funding?
No. In April 2025, Lorenc announced that Chainguard had raised a $356 million Series D at a stated $3.5 billion valuation. The figures and company scale metrics below are from his company update, not independent audits.
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Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →| Milestone | What was reported |
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| November 2023 Series B | $61 million; led by Spark Capital, with Sequoia Capital, Amplify Partners, The Chainsmokers’ Mantis VC, and Banana Capital participating. Chainguard said cumulative fundraising was $116 million. |
| April 2025 Series D | $356 million at a stated $3.5 billion valuation, announced by CEO Dan Lorenc. |
In the same April 2025 update, Lorenc reported 1,400 container images, more than 13,000 packages and Git repositories handled by the software factory, and more than 100 customers. Those are snapshots reported by the CEO at that time, rather than current independently verified totals.
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What the funding story does—and does not—show
The 2023 round was presented alongside growth in Chainguard Images and a broader effort to secure open-source software supply chains. The subsequent financing and portfolio expansion show how the company later described its scope, but funding amounts and company-reported operating metrics do not by themselves establish product performance, customer outcomes, or investment returns. The available financing timeline establishes a 2025 Series D after the 2023 Series B; it does not establish whether Chainguard raised another round after that update.
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