Software supply chain security provider Chainguard raises $50M in Sequoia-led round. Chainguard competitors are Bridgecrew, Fortress Information Security, Legit Security, Snyk, Sonatype, Synopsys, and Veracode.

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.

Source: Chainguard

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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