LangChain, whose AI software helps developers build applications using models like OpenAI’s GPT-4, has raised $100 million in funding at a $1.1 billion valuation, four sources familiar with the deal told Forbes. VC outfit IVP is leading the round, the sources said.
The company, which was on the 2025 Forbes AI 50 list and on the 2024 Forbes Next Billion Dollar Startups List, has about $16 million in annualized revenue, two of the source said. LangChain did not respond to Forbes’ request for comment. IVP declined to comment.
The funding amount has not been previously reported. TechCrunch first broke news of the deal.
Cofounders Harrison Chase and Ankush Goyal started LangChain in 2023 as an open source software that helped engineers quickly spin up AI-powered apps with as little as a few dozen lines of code. The platform has been used to build generative AI-based tools that can do everything from legal document review to retail refund processing.
The company’s first product LangSmith helps developers evaluate, monitor and debug code, helping businesses quickly ship products while ensuring the models perform accurately and provide relevant answers. It is used by some 40,000 teams at tech giants like Uber and LinkedIn as well as buzzy AI startups like Mercor and Lovable. In early 2024, the company introduced a new tool called LangGraph to help businesses build AI “agents” capable of performing specific tasks on their own. The tools have more than 20 million monthly downloads, according to the company’s website.
The round follows a $20 million Series A round in February 2024 led by Sequoia at a $200 million valuation. Langchain’s other backers include top VCs like Benchmark, Conviction and Lux Capital.
As more AI startups dedicate resources to creating apps or features that target sectors like healthcare, engineering or finance, LangChain is well positioned to sell its suite of tools to developers. But it’ll have to watch out for AI coding tools like Cursor and Windsurf and website development apps like Lovable that help companies save time and money while automating the process of integrating AI into everything they do.
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