LangChain raised $125 million at a $1.25 billion valuation, the company announced on Monday. TechCrunch reported in July that the provider of a popular open source framework for building AI agents was raising fresh funds at a valuation of at least $1 billion . The deal was led by IVP, as we previously reported. New investors CapitalG and Sapphire Ventures joined in, as did existing investors Sequoia, Benchmark, and Amplify.

LangChain began in 2022 as an open source project founded by machine learning engineer Harrison Chase. The startup was an early darling of the AI era, solving problems that made building apps with early-stage LLMs difficult, such as searching the web, calling APIs, and interacting with databases. It became a smash hit project, and Chase launched a startup with a

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