Belfast’s Cloudsmith raises $11m as demand for its software surges

28 Nov 2023

Glenn Weinstein. Image: Matt Mackey

New CEO Glenn Weinstein said that while the US is the biggest market for the company’s software, there has been demand from the UK, Germany and Australia.

Cloudsmith, a software company based in Belfast, has raised $11m in its latest funding round led by MMC Ventures.

This is the start-up’s second round of Series A funding since the $15m it raised in September 2021 to expand its software supply chain management business in the US.

Founded in 2016 by former NYSE developers Alan Carson and Lee Skillen, Cloudsmith helps businesses manage software on the cloud – removing the need to hire in-house support staff and cutting down on expenses.

The company’s software supply chain platform gives organisations a single source for managing all their software needs, including datasets required to build AI products.

Now, the latest funding will help Cloudsmith scale its operations globally as it continues to serve big names, including Shopify, HP, PagerDuty, Font Awesome and EnterpriseDB.

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

Cloudsmith has previously raised £2.1m in seed funding in 2019 led by Frontline, MMC and Techstart.

Weinstein said the latest funding comes at a time when 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 [intellectual property] theft,” he said.

“Cloudsmith is a great choice for companies with software teams distributed in remote locations, and while the US is our largest market, we continue to see increased demand from a range of countries including the UK, Germany and Australia.”

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Vish Gain is a journalist with Silicon Republic