Cloudsmith, a Belfast-headquartered software supply chain management firm, has raised 拢8.8 million in Series A2 financing.
The company will use the funds to scale operations as it serves its global client base, including leading software companies such as Shopify, PagerDuty, Font Awesome, HP and EnterpriseDB.
The funding, led by MMC Ventures, will bolster Cloudsmith鈥檚 ability to deliver what it describes as the world鈥檚 most powerful software supply chain platform. Cloudsmith gives organisations a single, reliable source for managing all their software assets, including datasets required to build the AI products of the future.
This latest funding follows the recent appointment of new CEO Glenn Weinstein, a seasoned industry executive with a strong track record in growing startups and leading cloud companies. Weinstein was brought on to accelerate Cloudsmith鈥檚 growth.
Weinstein said: 鈥淒espite economic headwinds and a slow VC funding market, this announcement reaffirms the confidence our investors have in Cloudsmith. We鈥檝e been successfully disrupting and reinventing the software supply chain market.
鈥淭his 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.鈥�
Cloudsmith鈥檚 cloud-native software supply chain management platform is designed to meet the needs of software teams building for internal use or distributing software packages to the market. It provides a comprehensive suite of artefact storage, management, and distribution solutions, allowing developers and companies to streamline and control their software supply chain, improve collaboration and accelerate product delivery.
Weinstein added: 鈥淭his funding will be used to enhance Cloudsmith鈥檚 unique cloud-native software supply chain solution, which is faster, more secure, and of higher value than the legacy on-premises vendors we鈥檙e displacing.鈥�
Highlighting the inherently global nature of software development and the company鈥檚 client base, Weinstein said: 鈥淐loudsmith is a great choice for companies with software teams distributed in remote locations, and whilst the US is our largest market, we continue to see increased demand from a range of countries including the UK, Germany and Australia.鈥�
Commenting on Cloudsmith鈥檚 rise as a leading Europe-based software company, Weinstein emphasised the strategic importance of its Belfast headquarters which benefits from unique access to both UK and EU markets.聽
鈥淏elfast is a leading tech hub with a thriving digital economy. We see this renewed round of investment as a doubling down on Cloudsmith鈥檚 commitment to this vibrant city,鈥� he said.