Belfast-based tech firm Cloudsmith has closed an equity investment round of GBP2.1 million led by Frontline Ventures and co-investors MMC Ventures, with local involvement by Techstart Ventures through its Invest NI fund, Techstart.
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.
“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,” says Alan Carson, CEO of Cloudsmith.
“Customer feedback has shown that a single cloud-based platform for managing software artifacts builds collaboration and communication between teams – a critical aspect of the DevOps culture we facilitate,” adds Lee Skillen, CTO of Cloudsmith.
Steve Collins, Partner at Frontline Ventures, says: “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.”
Dan Bailey, Venture Capital Investor at MMC Ventures, adds: “Visibility and management of software artifacts is ever increasing in importance as complexity increases within DevOps environments. We’ve been impressed by the team’s execution and vision in bringing this control and visibility to developers.”
Hal Wilson, Partner at Techstart Ventures, says: “This investment is a clear vote of confidence in the Cloudsmith team and their ability to execute.”