Cloudsmith Raises $23M for Software Supply Chain Security; 81% of Codebases Vulnerable, Lurgan Foods Seeks €500,000 for Expansion

Cloudsmith, a software supply chain security company, has successfully raised $23 million in funding to enhance its security measures. This investment marks a significant achievement for the Northern Irish tech sector, contributing to Cloudsmith's goal of addressing vulnerabilities in software supply chains, where it is reported that 81% of codebases contain high- or critical-risk open source vulnerabilities. The funding will aid in the company's growth strategy, which aims for billion-dollar valuation in the future. Additionally, Lurgan Foods, a sustainable food business based in Offaly, plans to raise €500,000 later this year to support its international expansion efforts.