Cloudsmith, a universal, cloud-native solution for software artifact management and software supply chain security, has raised $23 million in Series B funding, bringing its funding to over $40 million.

Cloudsmith is used by enterprises that need control, security, and scalability in their software supply chain.

Enterprises are racing to secure and control their software supply chain as software threats and compliance pressures mount. 

Over 90 per cent of a typical enterprise software application is sourced from open-source and third-party code, making binary artifact security as critical as source code scanning.

Cloudsmith’s cloud-native platform has proven to be the most scalable solution for providing a standardised, compliance-driven approach to artifact management across hundreds of developer teams using disparate formats, programming languages, and technologies.

“The way software is built is fundamentally changing, making artifact management mission-critical for developers, cybersecurity professionals, and platform engineers alike,” said Glenn Weinstein, Cloudsmith’s CEO. 

“Enterprises need real-time observability, security, and control over their software supply chain. This new investment will help us to keep scaling up to meet the needs of the world’s largest and most complex organisations.”

TCV led the funding, with participation from Insight Partners and existing investors MMC, Frontline, Techstart, Sorenson, Tapestry, and Shasta.

According to Morgan Gerlak, Partner at TCV:

 “Cloudsmith is showing why artifact management is a crucial component of the DevOps toolkit, enabling enterprises to better control, secure, and distribute software.”

Funding will go towards expanding sales, marketing, and customer success teams, innovation in software supply chain security product features, and investment in AI R&D.

Lead image: Cloudsmith. Photo: uncredited.