Cloudsmith Secures £18m in Major Series B Funding Round
Deal News | Mar 04, 2025 | UK Tech Funding
Cloudsmith, a Belfast-based software supply chain company, has secured £18 million ($23 million) in its Series B funding round, marking one of Northern Ireland's largest-ever venture capital raises. The investment was led by California-based TCV, with participation from Insight Partners and existing investors. This Series B funding, which comes after an $11 million Series A round in 2023, positions Cloudsmith as the fourth-largest fundraise in Northern Irish history. The funds will be allocated to expanding Cloudsmith's sales, marketing, customer success teams, and R&D efforts. Cloudsmith aims to redefine artifact management within the software industry, focusing on secure distribution of software for developers, cybersecurity professionals, and platform engineers. The company has grown by nearly 150% over the past year due to major client acquisitions, including American Airlines and Shopify. Cloudsmith's goal is to become a pivotal player in modern software supply chains.
Sectors
- Software Supply Chain
- Venture Capital
Geography
- Northern Ireland – Cloudsmith is based in Belfast, Northern Ireland, and the funding represents one of the largest rounds in the region's history.
- United States – The lead investor, TCV, and other participants such as Insight Partners are based in the US.
Industry
- Software Supply Chain – Cloudsmith operates within the software supply chain industry, focusing on artifact management for secure software distribution.
- Venture Capital – The article discusses a significant venture capital investment in Cloudsmith, highlighting its importance in the industry.
Financials
- £18 million ($23 million) – Amount raised by Cloudsmith in Series B funding.
- $11 million – Amount raised by Cloudsmith in Series A funding in 2023.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cloudsmith | Target Company | Company | Belfast-based software supply chain company raising Series B funding. |
| TCV | Lead Investor | Company | A California-based venture capital firm leading Cloudsmith's Series B round. |
| Insight Partners | Investor | Company | A venture capital firm participating in Cloudsmith's Series B funding. |
| CoreWeave, American Airlines, Shopify | Clients | Company | Major clients of Cloudsmith contributing to its growth. |
| Lee Skillen | CTO and Co-founder | Person | Chief Technology Officer and co-founder of Cloudsmith. |
| Glenn Weinstein | CEO | Person | Chief Executive Officer of Cloudsmith. |
| MMC, Frontline, Techstart, Sorenson, Tapestry, Shasta | Previous Investors | Company | Investors that participated in Cloudsmith's Series B funding. |
| Morgan Gerlak | Partner at TCV | Person | Partner at TCV, lead investor in Cloudsmith’s Series B funding. |