On Monday, LangChain declared it secured $125 million at a valuation of $1.25 billion. In July, TechCrunch stated that the widely used open source framework provider for creating AI agents was seeking new funding at a valuation of at least $1 billion. IVP spearheaded the deal, as previously mentioned. New investors like CapitalG and Sapphire Ventures participated, alongside existing investors Sequoia, Benchmark, and Amplify.
Founded in 2022 by machine learning engineer Harrison Chase as an open source project, LangChain quickly became an AI-era favorite, resolving issues that complicated app development with early LLMs, such as web searches, API calls, and database interactions. The project became incredibly successful, and Chase established a startup with a $10 million seed round from Benchmark in April 2023. One week later, Chase closed a $25 million Series A led by Sequoia, which reportedly valued LangChain at $200 million.
As leading-edge model developers have integrated more infrastructure, LangChain has transformed into a platform for agent development. Along with revealing its unicorn status, the company released updates to its primary offerings, including its agent builder LangChain, its orchestration and context/memory instrument LangGraph, and its testing/observability resource LangSmith. LangChain maintains immense popularity among open source developers, boasting 118,000 stars and 19.4 forks on GitHub.
