A Product Market Fit Show | Startup Podcast for Founders

He quit Google with no startup idea, raised $50M from Sequoia with no revenue— & grew to 8 figures in ARR. | Dan Lorenc, Founder of Chainguard

16 snips
Oct 11, 2024
Dan Lorenc, founder of Chainguard and a former Google employee, shares his remarkable journey in securing $50 million from Sequoia without a startup idea. He discusses the unexpected ease of fundraising in the startup world, detailing how he raised his first $5M with no deck or product. Dan explores how launching multiple products simultaneously fueled growth, and why timing and market identification are crucial. He also highlights the importance of hiring experienced sales teams and maintaining a zero-vulnerability standard in open-source security.
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ANECDOTE

Dan's Unbelievable Startup Journey

  • Dan Lorenc quit Google without a startup idea and raised $50M from Sequoia with no revenue shortly after.
  • Within a few years, Chainguard grew to 8 figures in ARR with hundreds of customers.
ANECDOTE

From Google Engineer to Founder

  • Dan worked nearly a decade at Google on cloud infrastructure and security before quitting.
  • He and co-founder Matt decided spontaneously to quit and start a security startup with no specific product idea.
INSIGHT

Market Delay Amid Security Crisis

  • Despite continuous security breaches, companies delayed response due to roadmap priorities and regulatory timelines.
  • The government's phased approach created a "wait and see" mindset delaying urgent action.
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