US cybersecurity startup bets $200m on London expansion
A US cybersecurity startup valued at $3.5bn is opening a new London hub as part of a $200m expansion across Europe, the Middle East and Africa, creating 200 jobs as demand for cyber defences surges. Chainguard, backed by investors including Sequoia Capital, Lightspeed and General Catalyst, will establish its regional headquarters in Clerkenwell as it [...]
A US cybersecurity startup valued at $3.5bn is expanding its operations into London, with a $200m investment in Europe, the Middle East, and Africa. The expansion will create 200 jobs and bolster the company's engineering, sales, and customer support teams. Chainguard, which specializes in securing open-source software, is establishing its regional headquarters in Clerkenwell.
The surge in demand for cyber defenses has been driven by a rise in cyber attacks on major retailers. Chainguard's AI technology makes it easier for hackers to exploit weaknesses in widely used applications. CEO Ian Burley warned that pulling open source software directly from public registries is akin to picking up a USB stick from the pavement and plugging it into a laptop.
The company's annual recurring revenue across EMEA has risen over 400% in the past year, and its regional customer base has grown eightfold. London's appeal for tech investment is on the rise, with recent commitments from US tech giants such as Nvidia, which announced plans to invest in British AI and cybersecurity startups, along with a $250m pledge for UK AI safety research.
The startup now serves over 800 customers globally, including European businesses Siemens and Aleph Alpha.
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