Cloudsmith, the Belfast-based artifact management platform, has successfully secured a $23m Series B funding round.
The round was led by TCV, with Insight Partners also participating alongside several existing investors.
This significant investment underscores the escalating demand for robust software supply chain security, which Cloudsmith addresses with its cloud-native platform. Enterprises globally are grappling with the complexities of integrating open-source and third-party code, making security a critical priority.
The company offers a modern, scalable solution for enterprises needing comprehensive control, security, and scalability in managing software artifacts. Positioned as a strong alternative to traditional providers like JFrog and Sonatype, Cloudsmith has shown impressive growth, nearly doubling its enterprise customer base last year by attracting major global companies.
The new capital injection will be used primarily for expanding Cloudsmith’s sales, marketing, and customer success teams. Additionally, the funds will support ongoing innovations in software supply chain security features and further investments in artificial intelligence research and development.
Cloudsmith’s platform is essential for developers, cybersecurity experts, and platform engineers, providing a centralized solution that supports diverse programming languages and technologies across global enterprises. The investment aims to enhance Cloudsmith’s capabilities in real-time observability, security, and control of software supply chains.
“Cloudsmith was founded to redefine artifact management, and with this investment, we’re accelerating towards our mission at full scale,” said Lee Skillen, Cloudsmith’s CTO and co-founder. Glenn Weinstein, Cloudsmith’s CEO, also commented on the evolving needs in software construction, emphasizing the critical nature of artifact management in modern cybersecurity landscapes.
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