TCV led the Series B one year ago and now doubles down on the Series C. Insight Partners also returns. The thesis: AI coding agents are generating software so fast and at such volume that human code review is no longer sufficient, and enterprise artifact management must function as the primary control and security layer.

Cloudsmith, the Belfast-based artifact management platform, has raised $72 million in a Series C round led by TCV, with participation from Insight Partners and other existing investors.

Both TCV and Insight Partners had backed the company’s $23 million Series B in March 2025, meaning the Series C represents a renewed conviction less than thirteen months later.

The round will fund product development and go-to-market expansion. The company was founded in Belfast in 2016 by Lee Skillen (CTO) and Alan Carson (now Chief Strategy Officer); Glenn Weinstein, formerly Chief Customer Officer at Twilio, joined as CEO when Carson stepped into the strategy role.

The investment thesis rests on a specific and increasingly high-stakes problem in enterprise software development. An “artifact” in Cloudsmith’s context is any software package, binary file, compiled application, or dependency produced or consumed during the development process, the libraries, containers, and components that go into production software.

As AI coding agents generate code at unprecedented volume and velocity, the number of artifacts a given enterprise must manage, track, and secure is growing faster than any human review process can handle.

The threat surface is also expanding: open-source dependencies can be compromised after ingestion (as in supply chain attacks), AI-generated code can introduce novel vulnerability patterns, and regulators are increasingly demanding that enterprises demonstrate that their software is “secure by design.”

Cloudsmith’s product is a cloud-native private registry and artifact management platform. Enterprises use it to host and distribute their own internal software packages, to mirror public registries (PyPI, Docker Hub, Maven, npm, and others) in a controlled private environment, and to apply security scanning, policy enforcement, and access controls to every package that enters or leaves their build pipelines.

The pitch against incumbent platforms, primarily JFrog Artifactory and Sonatype Nexus, is that those tools were designed for the era of hand-crafted software and cannot scale to the AI-agentic development model.

Cloudsmith’s most recent product additions include an ML Model Registry (bringing the same governance it applies to code packages to ML models and datasets) and an Enterprise Policy Manager for policy-as-code enforcement across the supply chain.

CEO Glenn Weinstein framed the series C as a response to a structural shift in how software is made. “AI agents generate so much software, so fast, it’s nearly impossible for humans to carefully review it all,” he said. “

Cloudsmith has the scale, and the broad view across the open-source ecosystem, to protect enterprises against the new kinds of threats that AI-driven development introduces.”

Morgan Gerlak, Partner at TCV, said the firm sees Cloudsmith as “defining artifact management for the AI era” and a platform enterprises will rely on for “compliance, control, and security at global scale.”

Thomas Krane, Managing Director at Insight Partners, cited the need to “secure the software supply chain” as AI-driven development becomes the norm.

Cloudsmith’s customer base is predominantly US-based, approximately 75% of revenue at the time of the Series B, despite the company being headquartered in Belfast, one of the most prominent tech success stories from Northern Ireland’s startup ecosystem.

The Series B press release noted nearly 150% year-over-year growth, with Fortune 500 and Global 2000 companies actively switching from legacy platforms. The Series C, which is three times the size of the Series B, signals that both the customer base and the average contract size have continued to expand in the intervening year.

Total raised prior to the Series C stood at approximately $52.5 million across seed, Series A ($26M in two tranches: $15M in 2021, $11M in 2023), and Series B.