Belfast-headquartered software supply chain management firm Cloudsmith has raised $23 million (€22 million) in funding to help grow its operations.
The Series B round was led by TCV, with participation from Insight Partners and existing investors Tapestry, MMC, Frontline, Techstart, Sorenson and Shasta.
The money will be used to expand its sales, marketing, and customer success teams, fund innovation in software supply chain security product features, and invest further in AI research and development. The round was oversubscribed, Cloudsmith said.
“Cloudsmith was founded to redefine artefact management, and with this investment, we’re accelerating towards our mission at full scale,” said Lee Skillen, Cloudsmith’s CTO and co-founder. “Alan [Carson] and I remain deeply committed to making Cloudsmith the definitive global leader in software supply chain security.”
The latest fundraising follows a 2021 initial Series A round led by Tiger Global, with an additional $11 million raised in 2023.
Cloudsmith, which was founded in 2016, by former NYSE developers Mr Carson and Mr Skillen, is aiming to simplify, secure and accelerate software development and delivery pipelines. The company has developed a repository for artefact storage, management, and distribution, offering a single source for managing software assets, such as data sets used for development of artificial intelligence products.
The company grew nearly 150 per cent in 2024 as it added Fortune 500 and Global 2000 companies to its client list.
“The way software is built is fundamentally changing, making artefact management mission-critical for developers, cybersecurity professionals, and platform engineers alike,” said Glenn Weinstein, Cloudsmith’s chief executive.
“Enterprises need real-time observability, security, and control over their software supply chain. This new investment will help us to keep scaling up to meet the needs of the world’s largest and most complex organisations.”
Headquartered in Belfast, Cloudsmith has customers worldwide, with 75 per cent of revenue from US-based customers.
