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Conversation
Highlights
Welcome to another episode of Category Visionaries — the show that explores GTM stories from tech’s most innovative B2B founders. In today’s episode, we’re speaking with Dan Lorenc, CEO & Founder of Chainguard, a software supply chain security platform that has raised $250 Million in funding.
Here are the most interesting points from our conversation:
- Focus on Open Source Security: Chainguard aims to provide a secure source for open source code, addressing the risks associated with the widespread use of open source software in modern applications.
- Industry Recognition Post-SolarWinds: The importance of software supply chain security became mainstream after the SolarWinds breach in December 2020, highlighting vulnerabilities in the software development process.
- Founding Story: Inspired by the increasing attention on software supply chain security, Dan and his co-founder Matt decided to leverage their experience at Google to address these challenges, officially launching Chainguard in October 2021.
- Initial Funding and Market Timing: Chainguard was founded during a peak period for venture capital investment, enabling them to secure initial funding quickly and focus on exploring market needs.
- Strategic Pivot: Early on, Chainguard experimented with multiple products before pivoting to focus on the one with the greatest demand, resulting in a successful transition and growth in revenue.
- Marketing and Awareness: Chainguard invested heavily in brand awareness through social media, PR, and content creation, aiming to be recognized as a leader in the software supply chain security space.
Actionable
Takeaways
Early Market Engagement:
Engage potential customers and industry leaders early to understand market needs and validate your product's direction. This helps in fine-tuning the product and gaining early adopters.
Strategic PR and Social Media:
Use social media and PR to build brand awareness. Share genuine, valuable content to establish authority and trust in your industry.
Adapt and Pivot:
Be prepared to pivot based on market feedback and demand. Having multiple product development paths can help identify the most promising opportunities.
Plan for Growth:
Think long-term when it comes to hiring and sales strategy. Enterprise sales cycles are lengthy, and planning 18 months ahead can help ensure you have the necessary resources in place.
Build Relationships:
Cultivate strong relationships with investors, customers, and industry influencers. These relationships can provide critical support and insights as your company grows.
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