LangChain is raising fresh funding at a $1 billion valuation, led by IVP, sources tell TechCrunch.
The AI startup kicked off in late 2022 as an open-source project by Harrison Chase. He turned it into a company after a $10M seed from Benchmark and a $25M Series A from Sequoia that valued LangChain at $200M.
LangChain’s open-source framework tackled key LLM limits — no real-time info or API calls — and quickly got huge traction on GitHub with 111K stars. 
The LLM landscape grew fast. Newcomers like LlamaIndex, Haystack, and AutoGPT offer similar features. Major players like OpenAI and Google now embed native tools that overlap with LangChain’s early edge.
LangChain shifted focus. Its paid product LangSmith launched last year, targeting LLM app monitoring and evaluation, especially agents. LangSmith is now driving $12M-$16M ARR, per four sources.
LangSmith offers a free tier and a $39/month team plan, with enterprise deals available. Clients include Klarna, Rippling, and Replit.
LangSmith leads LLM operations but faces rivals like Langfuse and Helicone. IVP declined to comment.
LangChain’s new round shows strong demand for LLM app management despite rising competition.
Sources also pointed to LangChain’s site for pricing: LangChain Pricing
