Belfast’s Cloudsmith raises €10m in new funding round

Belfast-headquartered software supply chain management firm Cloudsmith has raised $11 million (€10 million) in funding to help grow its operations.

The Series A2 financing was led by MMC Ventures, and follows a 2021 initial Series A round led by Tiger Global. It will help support Cloudsmith’s efforts to build a powerful software supply chain platform for clients that include Shopify, PagerDuty, Font Awesome, HP and EnterpriseDB, enhancing its cloud-native software supply chain solution.

Cloudsmith, which was founded in 2016, by former NYSE developers Alan Carson and Lee 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 datasets used for development of artificial intelligence products.

“Despite economic headwinds and a slow VC funding market, this announcement reaffirms the confidence our investors have in Cloudsmith. We’ve been successfully disrupting and reinventing the software supply chain market,” said chief executive Glenn Weinstein.

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“This fresh infusion of capital also comes as industry demand for secure and reliable software supply chain solutions is surging. Cybersecurity attacks of increasing severity have become more frequent, and threaten reputational damage, data exfiltration and IP theft.”

Mr Weinstein is a recent recruit to the company, brought on board to speed its growth. Prior to joining Cloudsmith he spent four years as Twilio’s chief customer officer.

The US remains the company’s largest market but demand has been increasing from a umber of countries, including the UK, Germany and Australia, Mr Weinstein said. He emphasised that Cloudsmith remains committed to its Belfast headquarters, which gives it access to both Europe and the UK.

“Belfast is a leading tech hub with a thriving digital economy. We see this renewed round of investment as a doubling down on Cloudsmith’s commitment to this vibrant city,” he said.