The Belfast-based tech startup Cloudsmith has just closed an equity investment round of €2.4 million. The round was led by Frontline Ventures and co-investors MMC Ventures, and locally by Techstart Ventures.
Founded in 2016, Cloudsmith’s Software-as-a-Service (SaaS) offers an advanced logistics platform for software developers, operators and vendors, who need to secure, manage and accelerate their product development and distribution. It distributes millions of artifacts on behalf of its global customer base spanning every time zone in almost every continent.
The seed round takes place after a pre-seed investment earlier in the year, and will be used to ramp-up Cloudsmith’s R&D and marketing capabilities, with a focus on bringing to market the world’s first universal artifact caching service – providing software developers with an isolation and edge caching layer that will add significant resilience and performance capabilities to modern software delivery.
Cloudsmith CEO Alan Carson stated: “We believe that the concept of provenance will play a defining role in the future of software security and quality. All companies need end-to-end visibility and control of the assets in their software pipelines. It’s important to have the support of Frontline and MMC as we enter this critical stage in Cloudsmith’s growth.”
According to Cloudsmigh, customer feedback has shown that a single cloud-based platform for managing software artifacts builds collaboration and communication between teams.
Steve Collins, Partner at Frontline Ventures commented: “The guys are building what is in effect a foundational element for the next stage in the evolution of software development and distribution. Protecting developers and businesses from the chaos of public software will be a game changer.”