Cloudsmith Raises $72 Million in Series C Round

Cloudsmith, a Belfast-based software startup specializing in artifact management, has raised $72 million in a Series C funding round to bolster its platform amid the rise of AI-driven development. The investment, announced Wednesday, was led by TCV with participation from Insight Partners and other existing investors, bringing the company's total external funding to more than $110 million.

The round follows a Series B investment of $23 million last year, also led by TCV, and comes as enterprises grapple with the rapid proliferation of AI-generated code. Cloudsmith's cloud-native platform serves as a centralized repository for software components, including open-source code, AI models, configuration scripts, operating systems, and containers. It enables administrators to verify cybersecurity compliance, generate software bills of materials (SBOMs) that list a workload's components, and scan for vulnerabilities using frameworks like the Exploit Prediction Scoring System, which assesses exploitation risks over the next 30 days. The system also flags licensing issues, such as clauses prohibiting commercial use, and supports automation workflows in Rego syntax to enforce policies,...