LangChain raises $300 million at a $3 billion valuation to expand its AI agent platform

LangChain, which makes software for building, running and governing AI agents, announced on November 13 that it has raised a $300 million Series C at a $3 billion valuation.

Investors and valuation

The round was led by Alphabet's investment arm CapitalG, with participation from Singapore's GIC, DFJ Growth, IVP and Sapphire Ventures. In its blog post, the company said Salesforce Ventures, Insight Venture Partners, QuantumLight and MongoDB Ventures joined as new investors, while Sequoia, Amplify and Benchmark invested again.

TechCrunch notes that the valuation is more than double the $1.25 billion LangChain commanded when it raised $125 million, led by IVP, about a year ago.

From open source to agent management

LangChain started in 2022 as a popular open-source project that helped early large language models search the web, call APIs and work with databases. As frontier AI labs began delivering those capabilities themselves, the company shifted its focus to managing AI agents.

Its main product, LangSmith, is framework-agnostic and is organized around three pillars: Agent Runtime, Agent Improvement and Agent Governance. LangChain says more than 7,000 organizations use LangSmith, including startups such as Harvey and Rippling and enterprises such as NVIDIA, Toyota and Salesforce. The company cites Workday as cutting the time to deploy a new agent from five months to under a day.

LangChain's pitch is that every company should "own its intelligence", choosing its own models and controlling its data and infrastructure rather than being locked into a single model, cloud or ecosystem. The company plans to unveil new LangSmith capabilities on November 20.

Sources: TechCrunch, LangChain