Open Source AI Software Maker LangChain Launches First Paid Product — With A Massive Waitlist

CEO Harrison Chase, who confirmed a $20 million funding round led by Sequoia, said his one-year-old startup already had a waitlist of 80,000 for its new LangSmith tools.

Working with a large language model, “you’re putting this non-deterministic thing at the center of a really complex application,” Chase toldSince it started rolling out LangSmith in a closed test this summer, public companies — Elastic in business search, Rakuten in ecommerce and Moody’s in credit —have adopted LangSmith, Chase said, with hundreds of users onboarding each week. LangSmith’s waitlist swelled to 80,000 signups over the past six months, he added.

Investor interest developed quickly. In February, he raised a $10 million seed round led by Benchmark. By the time LangChainthat raise in April, Chase had already closed another one: $20 million from Sequoia, valuing the company at $200 million, as firstAlready circling LangChain at its previous round, Sequoia partner Sonya Huang decided to take that unusual step to fast-follow after Chase attended the firm’s AI conference last March.

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Pivotal Founder Rob Mee’s New Startup Is Using AI To Drag Ancient Mainframes Into The CloudI'm a senior editor at Forbes covering venture capital and startups, especially in cloud and AI, out of New York. I edit the Midas List and Under 30 for VC, and created the Midas List Europe and Cloud 100 lists. I've written more than a dozen cover stories on business leaders including Marc Benioff, Patrick Collison and Melanie Perkins.
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