Belfast-based software company Cloudsmith raises $ 15million

Software supply chain management firm Cloudsmith has raised $ 15 million (€ 12.8 million) as part of a landmark investment for a technology company in Northern Ireland.

Leading venture capitalist Tiger Global, which is spending across Europe, has led what is the largest tech fundraising round in the North since 2005.

Cloudsmith said he intends to use the funding to hire 60 more employees and expand his sales and engineering team in the United States.

Other new investors participating in Series A include Shasta, Amaranthine, Sorenson and Leadout Capital. Previous backers including Dublin-based Frontline, MMC and Techstart have also participated, as have angel investors including Sarah Friar, the Northern Irish-born CEO who runs Nextdoor.

Cloudsmith, which was founded in 2016 by former NYSE developers Alan Carson and Lee Skillen, has developed an artifact repository and caching platform that provides digital storage for software assets under development. .

The solution helps simplify, secure and accelerate software development and delivery pipelines.

The company has customers in Europe, the United States, the Middle East and Australia, with the United States accounting for 60% of its sales.

“Cloudsmith was designed to tackle the complexity of managing software assets. . . Our service enables our customers to track and control the distribution of any software asset and provides tools to minimize the risks associated with using open source software, ”said Mr. Carson, CEO of the company.

“This is a major issue for the entire industry and our investors, led by Tiger Global, understand the need for a fully managed cloud native solution that Cloudsmith provides,” he added.

Cloudsmith previously raised £ 2.1million (€ 2.45million) in seed funding in 2019 in a round led by Frontline and MMC Ventures of London with participation from Techstart Ventures through its TechStartNI fund. .

Tiger Global, headquartered in Silicon Valley, has recently spurred a number of large investments as it focuses on Europe. Some of the Irish tech companies he has backed include Stripe, Flipdish and Qualio.