by Maria Deutscher
Cloudsmith Inc., a startup that helps software teams manage application components, has secured $72 million in new funding.
The Series C round was led by TCV, which was also the biggest backer of the company’s previous raise last year. Cloudsmith stated in its funding announcement today that the venture fund was joined by other existing investors and Insight Partners. The company’s total outside funding now exceeds $110 million.
Developers download the open-source components they use in software projects from not only GitHub repositories but also many other sources. Artificial intelligence models, for example, are usually sourced from Hugging Face Inc.’s namesake portal. For administrators, verifying that all the open-source components used by developers meet cybersecurity requirements can be highly time-consuming.
Belfast-based Cloudsmith sells a cloud platform that eases the task. It’s a kind of app store that is optimized to store open-source projects and other software building blocks. Administrators can centrally manage those components, which is simpler than monitoring third-party repositories scattered across multiple websites.
