Cloudsmith, headquartered in Belfast, has secured £8.8 million in Series A2 financing, led by MMC Ventures. This funding will allow Cloudsmith to scale operations and serve its global client base, which includes leading software companies like Shopify, PagerDuty, Font Awesome, HP, and EnterpriseDB. Cloudsmith’s cloud-native software supply chain management platform is deemed the most powerful, providing organisations with a single, reliable source to handle all their software assets, including datasets necessary to build AI products of the future. This latest funding comes after the appointment of new CEO Glenn Weinstein, whose goal is to boost Cloudsmith’s growth.
Weinstein emphasizes the importance of Belfast’s strategic location that benefits from access to UK and EU markets, making the city a thriving tech hub with a vibrant digital economy. Belfast is a crucial part of the company’s commitment, and Cloudsmith sees the renewed round of investment as an affirmation of its allegiance to the vibrant city.
With the surge of industry demand for secure and reliable software supply chain solutions, this investment comes at a crucial time. Cybersecurity attacks have become more frequent and pose a threat to companies’ data exfiltration, IP theft, and reputational damage. Cloudsmith’s cloud-native software supply chain platform offers comprehensive artefact storage, management, and distribution solutions for software teams building for internal use or distributing software packages to the market. This platform ensures that companies can streamline and control their software supply chain, improve collaboration and accelerate product delivery.
Weinstein stated that this funding would be used to enhance the cloud-based software supply chain solution to make it faster, more secure, and more valuable than legacy on-premises vendors that they are displacing. It’s noteworthy that Cloudsmith’s client base is inherently global, and software development can happen from remote locations worldwide. Weinstein is thrilled to see an increased demand from countries such as the UK, Germany, and Australia, aside from their most significant market, the US.