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The company’s CEO said there is a huge focus on technology and software innovation in Northern Ireland.
Northern Irish software company Cloudsmith has secured $23m in Series B funding in a round led by TCV with participation from Insight Partners and existing investors.
The oversubscribed round will allow the company to expand its engineering, product, sales, marketing and customer service teams as well as invest in AI research and development.
Founded in 2016 by Lee Skillen and Alan Carson, Cloudsmith helps businesses manage software on the cloud and is used by companies that need control, security and scalability in their software supply chain.
According to the company, it has significantly expanded its customer base by adding Fortune 500 and Global 2000 companies that are switching to modern artifact management.
Skillen said Cloudsmith was founded to “redefine artifact management”, a mission helped by the latest round of funding. “Alan and I remain deeply committed to making Cloudsmith the definitive global leader in software supply chain security.”
The latest funding follows two Series A funding rounds, the first of which saw the company raise $15m in 2021 and the second brought $11m in 2023.
The company’s CEO, Glenn Weinstein, said the way software is built is fundamentally changing “making artifact management mission-critical” for developers, cybersecurity professionals and platform engineers.
“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.”
Belfast is Cloudsmith’s ‘beating heart’
Cloudsmith’s Belfast headquarters is the centre of the company’s global operations, with 75pc of its revenue from US-based customers.
In an interview with SiliconRepublic.com earlier this year, CEO Weinstein said there is a huge focus on technology and software innovation in Northern Ireland, “with all sorts of organisations providing support for start-up entrepreneurs”.
“The beating heart of Cloudsmith is definitely here in Northern Ireland, and the rest of the company loves visiting Belfast for our offsites, which we do three times a year.”
Weinstein also said that some of the best software engineers in the world come from European countries and that hiring in the US doesn’t have to ramp up immediately in order to serve US-based customers.
“We can, for the most part, serve them just fine from our home here in the UK and Ireland,” he said. “Lots of US-based software companies are trying desperately to ramp up hiring in Europe – well, we’re already here.”
Additional reporting by Ciarán Mather
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