Software supply chain security company LabradorLabs said on Monday it has raised a total of 14.5 billion won in a Series B funding round.

Major investors in the Series B round included Shinhan Venture Investment, DS Asset Management, POSCO Technology Investment, Stonebridge Ventures, Korea Asset, Tkain Investment and Novosec Investment.

LabradorLabs said it plans to use the funds to secure key technologies, recruit talent and expand in global markets, mainly North America.

LabradorLabs has developed products ranging from a software composition analysis (SCA) solution to Labrador SCM, a platform for exchanging software bills of materials (SBOM) between companies. It also developed Labrador ServerCare, a solution that manages real-time vulnerabilities in operating servers. The company also provides a software supply chain security-focused AI model called Labrador LLM.

With the funding, LabradorLabs plans to advance its capabilities to cover security at the development stage, helping customers manage open-source risks more precisely and systematically. LabradorLabs CEO Jin-seok Kim (김진석) said, "This Series B funding round is the result of the market once again recognizing LabradorLabs' technological capabilities and growth potential." He added, "We will advance our core technologies and secure talent to lead a safe software supply chain ecosystem where customers can focus on innovation with confidence."