Cloudsmith, a Belfast-headquartered software supply chain management firm, has successfully raised Series A2 financing of $11m.
This funding positions the company to expand its operations globally, providing essential services to top-tier software firms such as Shopify, PagerDuty, Font Awesome, HP, and EnterpriseDB.
The investment, spearheaded by MMC Ventures, aims to enhance Cloudsmith’s offering as the most robust software supply chain platform worldwide. The company’s unique platform offers organizations a singular and reliable source for managing all their software assets, crucial for developing AI products of the future.
Detailing its operations, Cloudsmith stands out in the software supply chain management sector. Its cloud-native platform caters to software teams, whether building for internal use or distributing software packages to the market. The comprehensive suite of artifact storage, management, and distribution solutions that Cloudsmith provides enables developers and companies to streamline their software supply chain, fostering improved collaboration and accelerated product delivery.
The funds will be directed towards enhancing Cloudsmith’s distinctive cloud-native software supply chain solution. Glenn Weinstein, the newly appointed CEO with a track record of expanding start-ups and leading cloud companies, highlighted this. He noted, “This funding will be used to enhance Cloudsmith’s unique cloud-native software supply chain solution, which is faster, more secure, and of higher value than the legacy on-premises vendors we’re displacing.”
Weinstein also stressed the surge in industry demand for secure and reliable software supply chain solutions, citing increasing frequency and severity of cybersecurity attacks. “Despite economic headwinds and a slow VC funding market, this announcement reaffirms the confidence our investors have in Cloudsmith,” Weinstein said. He added that the funding bolsters their position in the market, particularly in the face of growing cybersecurity challenges.
Highlighting Cloudsmith’s global reach, Weinstein emphasized the importance of their strategic Belfast headquarters. “Belfast is a leading tech hub with a thriving digital economy. We see this renewed round of investment as a doubling down on Cloudsmith’s commitment to this vibrant city,” he concluded.
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