LangChain
ConvictionContext
Open-core / freemium B2B SaaS: free OSS frameworks (LangChain, LangGraph) as the top-of-funnel, monetized via LangSmith (usage-based traces/evals + seat-based collaboration + self-hosted enterprise) and LangGraph Platform deployment.
Revenue
~$12-16M ARRest. as of Jun 2025; company says grown since) — not audited/disclosedRev growth
~2x YoY est.$8.5M 2024 -> ~$16M 2025 per secondary sourcesGross margin
not disclosedcharacterized as strong software gross margin; primary COGS is cloud compute marked up through the tooling layerOp margin
not disclosedassume negative — growth-stage, headcount scaling fast, heavy R&D + DevRelCapex intensity
lowasset-light software; no owned data centers — rides third-party cloudValuation
~$1.25B post-moneySeries B, Oct 2025Valuation trail
Series B $1.25B post-money6.3× since Apr 2023
3 marks · Apr 2023–Oct 2025
private — no public price
Priced round
Three real priced primary rounds. Seed valuation is an approximate post-money implied by the ~$10M raise; Series A widely reported at ~$200M valuation; Series B disclosed at $1.25B post-money. No secondary or SPAC marks known.
The read
Where our coverage leans
Coverage leans bullish
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Full financial intelligence for LangChain
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07· sign in (free) for the analyst summary; Pro unlocks full intelligence