Chainguard plans to use the funds to invest in open-source projects. Here are the top-line bullets you need to know.
Chainguard, a software supply chain security provider, has raised $50M in a Series A. The round drew participation from Sequoia Capital, Amplify Partners, and MANTIS Venture Capital, among others.
HOW’S THE COMPANY PERFORMING?
- Washington-based Chainguard helps organizations secure their software supply chains by providing supply chain audits, trainings, and integration services.
- Along with the funding, the company announced the launch of its first set of container base images.
- The company’s customers include Fortune 500 firms, startups, and SMBs.
- It has a team of 42 employees.
WHY DOES THE MARKET MATTER?
- The global supply chain security market is expected to reach a value of $1.2B by 2026, growing at a CAGR of 6.3%, according to Markets and Markets.
- The rising frequency and severity of cyberattacks across industries have contributed to market growth.
- Disruption amid the pandemic has led many companies to adopt solutions designed to address supply chain vulnerabilities.
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