The company, which appeared on the 2025 Forbes AI 50 list and the 2024 Forbes Next Billion Dollar Startups List, has approximately $16 million in annualized revenue, according to two sources. LangChain did not respond to Forbes’ request for comment. IVP declined to provide any remarks.

This funding figure has not been reported before. TechCrunch was the first to report the deal.

LangChain was founded in 2023 by co-founders Harrison Chase and Ankush Goyal as an open-source software platform that enables engineers to rapidly develop AI-powered applications with just a few dozen lines of code. The platform has been utilized to create generative AI tools capable of performing various tasks—from legal document review to retail refund processing.

LangChain’s first product, LangSmith, assists developers in evaluating, monitoring, and debugging code, enabling businesses to deploy products faster while ensuring models deliver accurate and relevant results. It is used by around 40,000 teams at major tech companies such as Uber and LinkedIn, along with popular AI startups like Mercor and Lovable. In early 2024, the company launched a new tool named LangGraph to help businesses build AI "agents" capable of autonomously executing specific tasks. These tools see over 20 million monthly downloads, as stated on the company's website.

This fundraising round follows a $20 million Series A investment in February 2024 led by Sequoia, valuing the company at $200 million. LangChain also counts top-tier venture capital firms like Benchmark, Conviction, and Lux Capital among its investors.

As more AI startups focus on building apps or features tailored to industries like healthcare, engineering, or finance, LangChain is strategically positioned to offer its toolkit to developers. However, it must remain vigilant about competition from AI coding platforms like Cursor and Windsurf, and website development solutions like Lovable, which aim to save companies time and money by automating AI integration into their operations.

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