Funding

[Funding alert] Supply Chain Management Firm Cloudsmith Secures $11 Million in Series A2 Funding

Nov 28, 2023 | By Startup Rise EU

Supply chain management firm secures $11 million in series A2 funding. The company will use the funds to scale operations as it serves its global client base, including leading software companies such as Shopify, PagerDuty, Font Awesome, HP and EnterpriseDB.

Supply chain management firm Cloudsmith secures $11 million in series A2 funding. The company will use the funds to scale operations as it serves its global client base, including leading software companies such as Shopify, PagerDuty, Font Awesome, HP and EnterpriseDB.

The funding, led by MMC Ventures, will bolster Cloudsmith’s ability to deliver the world’s most powerful software supply chain platform. Cloudsmith gives organizations a single, reliable source for managing all their software assets, including datasets required to build the AI products of the future.

This latest funding follows the recent appointment of new CEO Glenn Weinstein, a seasoned industry executive with a strong track record in growing start-ups and leading cloud companies. Weinstein was brought on to accelerate Cloudsmith’s growth.

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The new CEO said: “Despite economic headwinds and a slow VC funding market, this announcement reaffirms the confidence our investors have in Cloudsmith. We’ve been successfully disrupting and reinventing the software supply chain market. This fresh infusion of capital also comes as industry demand for secure and reliable software supply chain solutions is surging. Cybersecurity attacks of increasing severity have become more frequent, and threaten reputational damage, data exfiltration and IP theft.”

Cloudsmith’s cloud-native software supply chain management platform is designed to meet the needs of software teams building for internal use, or distributing software packages to the market.

Read also - Madrid-based Cüimo Secures €900k in Funding

Weinstein added: “This funding will be used to enhance Cloudsmith’s unique cloud-native software supply chain solution, which is faster, more secure, and of higher value than the legacy on-premise vendors we’re displacing.

About Cloudsmith

Cloudsmith is a Belfast-headquartered software company that offers a cloud-based software supply chain management platform. As, a trusted partner for software developers and organizations, Cloudsmith provides artifact storage, management and distribution solutions.

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