Cloudsmith wants to make software management safer. Check out the pitch deck it used to raise $15 million backed by mega-investor Tiger Global.

Cloudsmith team Lauren Mills, Lee Skillen, Alan Carson, Mallory Mullan
Cloudsmith team Lauren Mills, Lee Skillen (CTO), Alan Carson (CEO), Mallory Mullan. Cloudsmith/Rachel McClure
  • Belfast-based software startup Cloudsmith has raised $15 million from Tiger Global.
  • The company's funding round is one of the biggest in Northern Ireland.
  • Check out Cloudsmith's pitch deck below.

US investing giant Tiger Global has led the largest tech fundraise in Northern Ireland in 16 years, backing a startup that aims to improve the security of software supply chains.

Belfast-based Cloudsmith, which was founded in 2016, allows businesses to manage all of their software assets from one interface while also concurrently scanning for any vulnerabilities in their setup. The startup claims its tech can help reduce the need to hire dedicated support staff.

Security has become a major issue in the software supply chain industry, which simply refers to anything that affects the development of a company's code through its development and into publication. In May, US President Joe Biden signed an executive order designed to make the Federal Government improve its software supply chain security amid a push for higher standards.

"The Biden thing was great because it puts a stake in the ground on what's going to be needed for next ten years," Cloudsmith CEO and cofounder Alan Carson told Insider. "The last decade of software was about automation, the next decade will be about security. Be it company to company, or company to government, you need a better understanding of the software you're using."

Carson added: "Managing software pipelines is only getting more chaotic so it's harder to build more secure software supply chains."

The startup's round is the biggest in Northern Ireland since telecommunications software company Aepona raised $20 million in 2005. It's a notable achievement for a nascent but growing ecosystem which raised a new record of $61.5 million in venture funding last year.

Cloudsmith raised its $2.9 million seed round in November 2019 from MMC Ventures and Frontline Ventures. Carson has also spent time in the Bay Area building connections with customers and investors.

"Being in Northern Ireland wasn't as much as a crutch as it might have been," he added. "The goal was to get American investment because our primary market is the US so made sense to get money from people in that network."

Funding came together over a five-week period with Cloudsmith doing five to eight pitches each day to narrow down a funnel of investors. The round will be used to bolster the company's current 17 staff. 

"We're really excited about opportunity to build on where we've got to now and go to a global market," Carson said.

Check out Cloudsmith's pitch deck below: 

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