How $3.5B Startup Chainguard Thrives Without an Office

Chainguard, a cybersecurity startup valued at $3.5 billion, has embraced a fully remote work model without maintaining a traditional office. By building a culture centered around flexibility, strong communication, and clear goals, the company proves that a physical office isn’t necessary for success. Their approach highlights how strategic planning, trust among employees, and the right tools can drive productivity and growth, offering a powerful example of how modern startups can thrive remotely.

GeekWire covers the entrepreneurial landscape of the Pacific Northwest. Stay updated by subscribing to their weekly startup newsletter and explore their funding tracker and venture capital directory.

Chainguard, a cybersecurity firm with more than 350 team members, recently secured $356 million in funding, reaching a $3.5 billion valuation, all without maintaining a single office space. At just four years old, the company stands out as an example of how a startup can scale without the traditional costs of physical offices.
CEO and co-founder Dan Lorenc emphasized the decision’s practicality. While most companies have shifted employees back to office environments post-pandemic, Chainguard remains among the 5% of fully remote U.S. businesses, according to Flex Index’s fourth-quarter data.

One of the major advantages of operating remotely, Lorenc explained, is the ability to recruit talent globally. Lorenc pointed out that their work often demands highly specialized knowledge in various open-source projects, programming languages, and ecosystems, and being location-agnostic helps them find the right expertise.

Other flexible companies, such as Seattle-based Zillow Group, also highlight talent access as a key benefit of remote work policies. To support its employees, Chainguard provides a monthly stipend to cover coworking space fees along with phone and internet expenses. They also offer $1,750 for setting up a home office.

Twice a year, the company organizes destination summits for employees, offering opportunities to engage with leadership, investors, and customers. Departments also hold separate in-person gatherings twice annually.  Lorenc believes occasional in-person interaction is crucial for building trust, personal connections, and strong teams.

Operating from Rhode Island, Lorenc hosts a weekly all-hands “ask me anything” session, each centered around a core company value. During customer-centric weeks, Chainguard even invites customers to share feedback.  Although Chainguard is officially based in Kirkland, Washington, its Seattle-area workforce is small and includes two of its co-founders.

Lorenc admits maintaining a strong culture is challenging during periods of rapid growth, yet the company has no immediate intention of establishing a physical office. He expressed that working remotely isn’t inherently difficult.

Drawing on his nine years at Google, Lorenc said Chainguard puts significant effort into clear written communication and maintaining an effective meeting rhythm. While some structured meetings are necessary, he noted that too many can be counterproductive.

Meanwhile, other startups are succeeding with opposite strategies. Statsig, a Seattle-based startup, implemented a five-day-per-week in-office policy when it launched in 2021. Statsig’s CEO, Vijaye Raji, acknowledged to GeekWire that in-person work has trade-offs, such as higher operational costs and a narrower talent pool, but praised the faster decision-making and stronger relationships that come from daily office interactions.

Both Statsig, ranked No. 9, and Chainguard, ranked No. 4 on the GeekWire 200 list, illustrate that different workplace strategies can lead to success, proving there’s no universal model for growing a thriving startup.

For questions or comments write to contactus@bostonbrandmedia.com

Source: geekwire‍