New Yorker tech sector CEO Glenn Weinstein is putting his money where his mouth is.
For this week, as he announced an $11m investment in Belfast software company Cloudsmith, the industry veteran revealed that he is now splitting his time between New York and New Belfast.
The company Winstein leads will use the fresh injection of funds to scale operations as it serves its global client base, including leading software companies such as Shopify, PagerDuty, Font Awesome, HP and EnterpriseDB.
We are proud to announce that Cloudsmith has secured $11m in Series A2 funding led by @MMC_Ventures, propelling us to new heights in delivering the ultimate software supply chain platform. Dive into the details on our website https://t.co/wEgWsxYwQj pic.twitter.com/ziToxMDhDC— Cloudsmith (@cloudsmith) November 29, 2023
The funding, led by MMC Ventures, will bolster Cloudsmith’s ability to deliver the world’s most powerful software supply chain platform. Cloudsmith gives organisations a single, reliable source for managing all their software assets, including datasets required to build the AI products of the future.
This latest funding follows the recent appointment of Weinstein as Cloudsmith CEO.
“Despite economic headwinds and a slow VC funding market, this announcement reaffirms the confidence our investors have in Cloudsmith," he said. "This fresh infusion of capital also comes as industry demand for secure and reliable software supply chain solutions is surging. Cybersecurity attacks of increasing severity have become more frequent, and threaten reputational damage, data exfiltration and IP theft.”
Commenting on Cloudsmith’s rise as a leading Europe-based software company, Weinstein emphasised the strategic importance of its Belfast headquarters which benefits from unique access to both UK and EU markets.
“Belfast is a leading tech hub with a thriving digital economy. We see this renewed round of investment as a doubling down on Cloudsmith’s commitment to this vibrant city,” he said.