<ul data-eligibleForWebStory="false"><li>LangChain, an AI infrastructure startup providing tools for LLM-powered applications, is reportedly raising a new round of funding at a $1 billion valuation led by IVP.</li><li>Founded by Harrison Chase in late 2022, LangChain started as an open-source project and secured previous funding rounds, with LangSmith, a product for monitoring LLM applications, contributing to its success.</li><li>LangSmith, introduced last year, has helped LangChain achieve an ARR between $12-16 million, attracting companies like Klarna, Rippling, and Replit as customers.</li><li>Although LangSmith dominates the LLM operations market, it faces competition from smaller players like Langfuse and Helicone, with IVP declining to comment on the funding round.</li></ul>

LangChain is about to become a unicorn, sources say

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