Cloudsmith Raises $15M Series A - Software Supply Chain Platform

Cloudsmith Secures $15 Million in Series A Funding

Cloudsmith, a platform dedicated to software supply chain management, has successfully closed a $15 million Series A funding round. This investment was spearheaded by Tiger Global and is reportedly the largest Series A round in Northern Ireland since 2005, based on data from PitchBook.

The newly acquired capital will be strategically allocated towards expanding the company’s workforce. Specifically, Cloudsmith intends to onboard 60 new employees, with a focus on bolstering its U.S. sales and engineering divisions.

Investor Details

In addition to Tiger Global, the funding round saw participation from Shasta, Amaranthine, Sorenson, and Leadout Capital. Existing investors, including Frontline, MMC, and Techstart, also contributed to this financing effort.

Notably, prominent industry leaders also joined the round. These include Scott Johnston, CEO of Docker; Sarah Friar, CEO of Nextdoor; and Yvonne Wassenaar, CEO of Puppet.

Streamlining Software Management

Headquartered in Belfast, Cloudsmith offers a solution for businesses to centrally manage all incoming software through a cloud-based system. This eliminates the need for dedicated on-site support personnel.

Traditional software management often necessitates dedicated staffing, VPN infrastructure, and software licenses. Cloudsmith’s platform aims to simplify this process.

Security and Global Reach

Cloudsmith’s software incorporates security vulnerability scanning capabilities. The company currently serves a diverse customer base spanning Europe, the U.S., the Middle East, and Australia.

Among its clients are well-known organizations such as the Internet Systems Consortium, Carta, and Font Awesome.

Company History and Founding

Founded in 2016 by former NYSE developers Alan Carson and Lee Skillen, Cloudsmith initially secured a £2.1 million seed investment in 2019.

This seed round was led by Frontline Ventures, MMC Ventures, and Techstart.

CEO’s Vision

Alan Carson, co-founder and CEO of Cloudsmith, emphasized the platform’s core purpose. He stated that Cloudsmith was created to address the complexities inherent in managing software assets.

Securing software supply chains is a critical challenge for modern companies, and Cloudsmith provides the tools to track, control, and minimize risks associated with open-source software.

Industry Perspective

Vidya Raman, principal at Sorenson Ventures, highlighted the importance of package management in the software development lifecycle.

She noted that the increasing demand for cloud-native software development and secure supply chains has driven a need for innovation in this area, positioning Cloudsmith’s Continuous Packaging platform as a market leader.

The Evolution of Software Pipelines

In a conversation with TechCrunch, Carson explained the shift in software development over the past decade.

The focus has moved towards building automated pipelines for deployments and software distribution, requiring tools for asset management and storage.

Cloudsmith directly addresses this need by facilitating the movement and storage of assets both entering and resulting from these processes.

Advantages of a Fully Managed Solution

Carson further explained that many existing solutions are based on legacy systems.

Cloudsmith’s fully managed approach simplifies operations for companies, reducing the total cost of ownership. This allows organizations to concentrate on software development rather than infrastructure maintenance.

By handling the complexities of storage and distribution, Cloudsmith empowers businesses to prioritize innovation.