The cloud-native platform for managing software artifacts, Cloudsmith, based out of Belfast, has announced that it has received an investment of $72 million in its Series C financing round, led by TCV, alongside Insight Partners and existing investors. This comes amidst its efforts to take control of the fast-changing AI-powered software supply chain. The new round is part of its rapid growth trajectory and was only one year after its Series B funding. Increasing enterprise demands of advanced and modern infrastructures that can cope with the complexity and size of AI-powered software have pushed Cloudsmith to secure this funding. The rise in adoption of AI-powered coding agents and software has left enterprises with insufficient tools; therefore, many Fortune 500 and Global 2000 enterprises are looking to move towards the use of Cloudsmith’s platform. CEO Glenn Weinstein emphasized the irreversible shift toward AI-generated software, stating, “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.”
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Investors echoed confidence in Cloudsmith’s leadership and market position, with Morgan Gerlak of TCV stating, “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.” Thomas Krane of Insight Partners added, “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.” This investment represents a larger trend within the industry, since companies are increasingly confronted by security concerns, compliance issues, and practical difficulties related to the rapid rise in the use of artificial intelligence within software development.
