Funding round
Chainguard Series D
Chainguard, which works in open source software distribution in Kirkland, raised $356M in a Series D round announced on 23 Apr 2025, led by Kleiner Perkins, Institutional Venture Partners and Institutional Venture Partners, at a $3.50B post-money valuation. 12 firms took part, 9 of them already investors. It is Chainguard's fifth venture round on record; the one before was a Series C in Jul 2024.
$356M
Amount raised
$3.50B
Post-money valuation
$3.14B pre-money
12
Investors
3 leads
3.1x
Step-up from the Series C
$1.12B in Jul 2024
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Chainguard at $3.50B after the new money, 3.1 times the $1.12B of its Series C (Jul 2024). The $356M bought investors about 10% of the company. It came 9 months after Chainguard's Series C. It is 40% of the $892M Chainguard has raised in the venture rounds on record. Chainguard raised again 6 months later: a Growth round of $280M in Oct 2025.
Chainguard's funding rounds
Chainguard has 6 venture rounds on record. This one is highlighted.
- Seed 8 Dec 2021, led by Amplify Partners $5.0M
- Series A 2 Jun 2022, led by Sequoia Capital $50M
- Series B 1 Nov 2023, led by Spark Capital $61M
- Series C 25 Jul 2024, led by Redpoint Ventures, Lightspeed Venture Partners and Institutional Venture Partners $140M$1.12B post-money
- Series D this round 23 Apr 2025, led by Kleiner Perkins and Institutional Venture Partners $356M$3.50B post-money
- Growth 23 Oct 2025, led by General Catalyst $280M
Investors
Who put money in
Kleiner Perkins, Institutional Venture Partners and Institutional Venture Partners led the round with 9 other firms. Institutional Venture Partners, Sequoia Capital, Spark Capital and Amplify Partners and 5 more had backed Chainguard before.
Lead investors
- Kleiner Perkins backs 285 venture-backed companies new investor
- Institutional Venture Partners existing investor
- Institutional Venture Partners backs 109 venture-backed companies existing investor
Also in the round
- Salesforce Ventures backs 314 venture-backed companies new investor
- Datadog Ventures new investor
- Sequoia Capital backs 589 venture-backed companies existing investor
- Spark Capital backs 234 venture-backed companies existing investor
- Amplify Partners existing investor
- Redpoint Ventures backs 194 venture-backed companies existing investor
- Lightspeed Venture Partners backs 454 venture-backed companies existing investor
- backs 63 venture-backed companies existing investor
- existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
109 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 3.6 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Runway Tech Companies | 3 Apr 2025 | $308M | $3.00B | General Atlantic |
| Supabase Tech Companies | 22 Apr 2025 | $200M | $2.00B | Accel |
| Tech Companies | 30 Apr 2025 | $200M | $2.00B | Founders Fund and Ribbit |
| Tech Companies | 7 Apr 2025 | $115M | not disclosed | not named |
| Tech Companies | 28 Apr 2025 | $108M | $808M | New Enterprise Associates |
| Tech Companies | 2 Apr 2025 | $100M | $1.00B | StepStone Group |
| Tech Companies | 3 Apr 2025 | $100M | $1.00B | GV |
| Tech Companies | 1 Apr 2025 | $82M | $2.20B | Sequoia Capital and CapitalG |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Chainguard raise in its Series D round?
Chainguard raised $356M in its Series D round, announced in Apr 2025.
Who led Chainguard's Series D round?
Kleiner Perkins, Institutional Venture Partners and Institutional Venture Partners led it, with Salesforce Ventures, Datadog Ventures, Sequoia Capital, Spark Capital and Amplify Partners and 4 more.
What was Chainguard's valuation at the Series D round?
$3.50B post-money ($3.14B pre-money).
How does it compare with other Series D rounds in Tech Companies?
109 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 3.6 times the median.
Did Chainguard raise again after this round?
Yes: a Growth round in Oct 2025 of $280M.