Cloudsmith raises USD $72 million in Series C round

Cloudsmith has raised USD $72 million in a Series C funding round led by TCV, with participation from Insight Partners and other existing investors.

The investment is among the largest funding rounds secured by a Northern Ireland technology company.

The Belfast-based software company said the new capital follows strong annual growth and comes a year after its Series B round. It plans to use the money for product development and to expand its sales and marketing operations.

Cloudsmith sells software artefact management tools that help companies store, manage and control software packages and dependencies across development environments. It says demand is rising as businesses deploy AI coding agents that produce more code and more software components at greater speed.

That shift has increased focus on software supply chain risks, especially where organisations rely on open-source libraries, internal packages and third-party dependencies. Customers are seeking stronger oversight as AI-generated software increases the volume and complexity of development workflows.

Cloudsmith said more existing customers, including Fortune 500 and Global 2000 companies, are replacing older systems with its cloud-based platform. It added that enterprises adopting AI coding tools are turning to its products for governance and control over software supply chains.

Chief Executive Officer Glenn Weinstein linked the fundraising to changes in how software is produced.

"Cloudsmith is the only platform built for the way software is being developed today - by AI agents. We're never going back to hand-crafted software. AI agents generate so much software, so fast, it's nearly impossible for humans to carefully review it all. Cloudsmith has the scale, and the broad view across the open-source ecosystem, to protect enterprises against the new kinds of threats that AI-driven development introduces. TCV and Insight Partners both recognise this profound shift, and their backing is helping Cloudsmith scale up for the massive wave of adoption of AI agents across enterprise software teams," Weinstein.

The deal deepens the commitment of two investors already on the company's cap table. TCV led Cloudsmith's previous funding round and returned to lead the latest raise, while Insight Partners also increased its backing.

Investor backing

TCV said its decision to reinvest reflects its view that software infrastructure markets are being reshaped by AI-led development.

"Having led Cloudsmith's Series B and now its Series C, TCV is proud to deepen our partnership with a company we see as defining artifact management for the AI era. As AI shapes the software supply chain, we believe Cloudsmith is uniquely positioned to become a platform enterprises rely on for compliance, control, and security at global scale," said Morgan Gerlak, Partner, TCV.

Insight Partners made a similar case, emphasising the need to secure software production as AI tools become more widely used within companies.

"In an era increasingly defined by AI-driven development, securing the software supply chain is critical. As a cloud-native offering, Cloudsmith is well positioned to do this - providing the scale and reliability needed to help power enterprise and AI-driven builds and mitigate emerging risks. We believe in Cloudsmith's vision to secure the software supply chain by serving as a curated, AI-ready solution for enterprises of all sizes," said Thomas Krane, Managing Director, Insight Partners.

Artefact management software has become more strategically important as companies face greater scrutiny over how software is assembled and whether dependencies can be verified. Businesses in regulated sectors, in particular, are under pressure to show that software components are tracked and controlled throughout development and deployment.

Cloudsmith is positioning itself against older artefact management products designed before cloud-native development practices and the adoption of AI-generated code. Its pitch centres on managing packages across formats and environments while giving engineering teams visibility over what enters the software supply chain.

Cloudsmith said the market has reached a turning point as AI coding agents generate software artefacts at far greater velocity and volume. That has widened the number of potential entry points for attackers and increased the importance of governance over packages and dependencies.

For Northern Ireland's technology sector, the size of the round stands out in a market where large late-stage funding deals remain relatively rare. The raise gives Cloudsmith fresh capital as competition intensifies around tools that help companies manage software risk in increasingly automated development environments.