Cloudsmith, a company based in Belfast, has raised $72 million in a Series C funding round aimed at enhancing its market strategy and product development. This financing, primarily led by TCV with contributions from Insight Partners and others, follows a successful Series B round a year prior and a period marked by strong year-over-year growth.
As enterprises increasingly migrate from traditional artifact management tools to Cloudsmith's cloud-native platform, there is a notable shift towards the use of AI-driven software development. The demand for secure software supply chains is rising, particularly as AI coding agents generate code rapidly, leading to new security challenges that have become significant concerns for company boards.
Cloudsmith’s platform aims to equip engineering teams with the visibility and scale required to manage software packages throughout their development lifecycle. The company’s architecture is designed to offer the necessary controls for modern enterprises, addressing the complexities of managing software supply chains amid growing regulatory demands.