LangChain, the startup behind software for building and managing AI agents, has raised $300 million in a Series C round at a $3 billion valuation, the company announced Friday, Nov. 13. CapitalG led the round, with Singapore’s GIC, DFJ Growth, IVP and Sapphire Ventures taking part.[1]
Related: ChatGPT Wallet Lets AI Agents Make Purchases.
From open-source project to agent platform
The valuation is more than double the $1.25 billion LangChain was worth when it raised $125 million about a year ago in a round led by IVP.[1]
LangChain began in 2022 as a popular open-source project that helped early large language models search the web, call APIs and work with databases. As the big AI labs built those abilities into their own tools, the company turned to managing AI agents.[1]
The pitch
Its main product, LangSmith, is built to avoid locking customers into any one AI model, cloud or ecosystem, which the company contrasts with the major cloud providers and frontier labs. LangChain says it has 7,000 LangSmith customers, including startups Harvey, Rippling and Clay and large companies such as Nvidia, Toyota and Salesforce.[1]
A crowded field
Many startups now pitch similar agent tools, TechCrunch noted, but LangChain had a head start.[1] The raise comes as AI labs push agents into everyday tasks, such as ChatGPT’s new Wallet for agent purchases. See also our report on business AI spending.
More in AI news.
Sources
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