Belfast Tech Firm Cloudsmith Secures Record £53m Investment in Largest Ever NI Venture Capital Deal
Belfast-based software firm Cloudsmith has secured $72 million (approximately £53 million) in a Series C funding round — believed to be the largest venture capital deal ever secured by a Northern Ireland-based technology company — as it positions itself to become a global leader in AI-driven software supply chain management.
Background
Cloudsmith was founded in 2016 by Alan Carson and Lee Skillen and specialises in a cloud-native software supply chain management platform. The company has grown rapidly, with its platform becoming increasingly critical for enterprises managing the growing volume and complexity of AI-generated software. The company currently employs approximately 130 people, the majority of whom are based in Belfast.
Key Developments
The Series C round, announced on 23 April 2026, was led by California-based TCV — which has a history of backing major companies including Facebook and Airbnb — with participation from New York-based Insight Partners and existing investors. The investment brings Cloudsmith's total funding to well over $100 million and places the company close to a $1 billion "unicorn" valuation.
CEO Glenn Weinstein highlighted that AI agents now generate software at a speed that makes human review nearly impossible, making Cloudsmith's platform essential for governance, compliance, and security. The company's universal artifact management platform is being adopted by a growing number of Fortune 500 and Global 2000 companies, who are replacing legacy tools with Cloudsmith's cloud-native, API-first architecture.
The new capital will be used to accelerate product development — including expanding its security stack with continuous package enrichment and OPA-based policy management — broaden go-to-market capabilities, and increase hiring. Previous funding rounds include a $23 million Series B in March 2025 and Series A raises of $15 million in 2021 and $11 million in 2023.
Why It Matters
The investment is a landmark moment for Northern Ireland's technology sector, demonstrating that Belfast-based companies can attract world-class venture capital and compete at a global level. The deal is expected to bring increased focus on Belfast's talent pool, particularly in cybersecurity and developer tooling, and will likely accelerate hiring across the city's tech community.
What's Next
Cloudsmith is targeting unicorn status — a $1 billion valuation — as it expands its customer base among the world's largest enterprises. The company is expected to announce further product developments and hiring plans in the coming months. Read the full BBC report here.
