Cloudsmith Secures $23M in Series B Funding to Enhance Security Features

Cloudsmith Secures $23M in Series B Funding to Enhance Security Features

Cloudsmith, the innovative artifact management platform based in Belfast, has successfully raised $23 million in a Series B funding round. This funding round was led by TCV, with contributions from Insight Partners and several existing investors. This substantial investment highlights the growing necessity for effective software supply chain security, which Cloudsmith aims to address with its advanced cloud-native platform.

The Importance of Software Supply Chain Security

As enterprises around the world face challenges integrating open-source and third-party code, ensuring robust security has become a top priority. Cloudsmith offers a modern, scalable solution that provides comprehensive control and security for managing software artifacts.

Cloudsmith’s Position in the Market

  • Growth: The company has nearly doubled its enterprise customer base over the past year, attracting major global firms.
  • Competition: Positioned as a strong alternative to traditional providers like JFrog and Sonatype, Cloudsmith is redefining the landscape of artifact management.

Utilization of New Funds

The recent capital injection will primarily focus on:

  1. Expanding Cloudsmith’s sales and marketing teams.
  2. Enhancing customer success initiatives.
  3. Investing in ongoing innovations in software supply chain security features.
  4. Further research and development in artificial intelligence.

Benefits for Developers and Cybersecurity Experts

Cloudsmith’s platform is essential for developers, cybersecurity professionals, and platform engineers. It offers a centralized solution compatible with various programming languages and technologies across global enterprises. The investment will enhance Cloudsmith’s capabilities in real-time observability, security, and control of software supply chains.

Leadership Insights

Lee Skillen, Cloudsmith’s CTO and co-founder, stated, “Cloudsmith was founded to redefine artifact management, and with this investment, we’re accelerating towards our mission at full scale.” Glenn Weinstein, the CEO of Cloudsmith, also noted the evolving needs in software construction, emphasizing the critical role of artifact management in modern cybersecurity landscapes.

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For more information about Cloudsmith and its services, visit Cloudsmith’s official website. Additionally, explore the latest trends in software supply chain security on TechCrunch.

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