Venture capital firm Kleiner Perkins is in discussions to lead a US$350 million funding round for Chainguard Inc., a cybersecurity startup.

If successful, this funding would increase Chainguard’s valuation to US$3.5 billion, tripling its value since its last funding round in 2024.

Chainguard, based in Kirkland, Washington, provides secure tools for software development.

Its clients include Anduril Industries, Hewlett Packard Enterprise, and Snowflake.