Deal takes Belfast software firm close to $1bn valuation
Cloudsmith, a Belfast software company, has received a £50m investment led by US venture capital firms TCV and Insight Partners, bringing it close to a $1bn valuation. The investment will be used to increase hiring and accelerate software development.
Cloudsmith, a Belfast software company, has received a £50m investment led by two US venture capital firms, TCV and Insight Partners. The company currently has 130 staff, mainly based in Belfast, and will use the investment to increase hiring and accelerate software development. Cloudsmith's technology lets companies update and send software securely around their business using the cloud. The firm's founders, Alan Carson and Lee Skillen, previously worked for the New York Stock Exchange technology operation in Belfast. The investment is Cloudsmith's third in recent years, indicating investors are convinced the company has an opportunity to grow rapidly into a globally successful firm. Cloudsmith's technology is seen as a major growth opportunity due to the increasing complexity of managing software supply chains driven by Artificial Intelligence.
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