The company raised $23m last year to expand its workforce.

Belfast software company Cloudsmith has made a $72m Series C raise led by the investment firm TCV.

The raise, Cloudsmith said, would position the company for “massive growth” as it eyes the AI-generated software market. The funds will help accelerate product development and expand its go-to-market capabilities. Insight Partners and other existing investors also supported the round.

The latest funding comes just a year after the company raised $23m in a Series B to expand its workforce across departments and invest in AI R&D. TVC also led this round.

Founded in 2016 by Lee Skillen and Alan Carson, Cloudsmith helps businesses manage software on the cloud, and is used by companies that need control, security and scalability in their software supply chain. The company made two Series A raises – $15m in 2021 and $11m in 2023.

The new investment follows a period of strong year-over-year growth, Cloudsmith said, as companies seek modern infrastructure to keep pace with the speed and scale of AI-generated software.

Businesses also rely on software companies such as Cloudsmith to provide guardrails and governance when adopting AI-coding agents.

The investment comes at a time when AI coding is seeing unprecedented uptake by enterprises, which brings with it an ever expanding threat surface.

Enterprises need to manage an growing software supply chain, while facing regulatory pressures and their own security requirements to ensure their AI-generated software is secure by design.

“AI agents generate so much software, so fast, it’s nearly impossible for humans to carefully review it all,” said Glenn Weinstein, the CEO of Cloudsmith.

Weinstein said Cloudsmith has the capacity 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.”

Thomas Krane, the managing director at 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.”

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