Veracode Takes Home Two MITX Technology Awards

5th Annual Awards Honor Technology Innovation in New England

Burlington, Mass. and London – June 10, 2008 – Veracode Inc., the world’s leader for on-demand application security testing solutions, today announced that the company has won both the Data Protection and Sector Impact awards at this year’s 2008 MITX Technology Awards. The MITX Technology Awards, presented by the Massachusetts Innovation & Technology Exchange, recognize innovative technologies developed in the New England area, as well as the individuals and organizations responsible for driving these advancements. Honorees for this year’s awards were announced on Tuesday, June 3rd in a ceremony at The Royal Sonesta Hotel in Cambridge.

“We have been extremely impressed with the breadth and quality of the nominations this year. They show incredible innovation across a variety of sectors and highlight the vitality of our local technology community,” said Kiki Mills, executive director of MITX. “As we continue to enjoy a surge in technology investments in New England, we are proud to showcase the contributions our community is making to global technology development.”

Veracode was the only company to receive two awards at the MITX ceremony and was honored for its innovative approach to securing software applications. Veracode’s SecurityReview® is the first application security testing solution available as an on-demand service, making it easy and cost-effective for organizations to produce and purchase more secure code. Veracode’s patented on-demand service is the industry’s only solution that can inspect the software executable (binary code) and find application vulnerabilities as well as malicious code such as hidden backdoors, providing the most thorough application security audit in the marketplace.

“The MITX awards showcase companies that represent the strength of the New England technology economy and we are proud to be recognized as one of the leaders,” said Matt Moynahan, CEO of Veracode. “These two awards really validate the hard work and dedication the Veracode team has put into overcoming the immense security challenges facing the software industry today.”

More than 325 of the region’s top technology and business professionals attended the MITX Awards ceremony. The event also included a keynote address by Dr. Amar Bose, Chairman &Technical Director of Bose Corporation, as well as a panel forum on “What’s Next for the Advertising Business Model.” For a complete list of winners please visit:

http://www.mitxawards.org/technologyawards/finalists_winners.aspx?year=2008

The 2008 MITX Technology Awards sponsors were Backbone Media, DLA Piper, Invest Northern Ireland, LEWIS PR, Oracle, Rocketship and Technology Review, Inc.

About Veracode

Veracode is the world’s leader for on-demand application security testing solutions. Veracode SecurityReview is the industry’s first solution to use patented binary code analysis and dynamic web analysis to uniquely assess any application security threats, including vulnerabilities and malicious code. SecurityReview performs the only complete and independent security audit across any internally developed applications, third-party commercial off-the-shelf software and offshore code without exposing a company’s source code. Delivered as an on-demand service, Veracode delivers the simplest and most-cost effective way to implement security best practices, reduce operational cost and achieve compliance without requiring any hardware, software or training.

Veracode has established a position as the market visionary and leader with awards that include recognition as a Gartner “Cool Vendor” 2008, Info Security Product Guide’s “Tomorrow’s Technology Today Award 2008,” Information Security “Readers’ Choice Award 2008,” AlwaysOn Northeast’s “Top 100 Private Company 2008”, NetworkWorld “Top 10 Security Company to Watch 2007,” and Dark Reading’s “Top 10 Hot Security Startups 2007.”

Based in Burlington, Mass., Veracode is backed by .406 Ventures, Atlas Venture and Polaris Venture Partners. For more information, visit www.veracode.com.

About MITX

Established in 1996, MITX — the Massachusetts Innovation & Technology Exchange is the leading industry organization focused on the web, bringing together the digital technology, marketing and media community to engage in what is next for the web and how it will impact the marketing and business worlds. Reaching more than 6,000 professionals in New England, MITX is a dynamic and growing community of thought leaders, collaborators, and individuals in search of insight, education and opportunity. With more than 60 events annually, MITX provides its members with the opportunity to promote their companies to targeted audiences and provides a valuable forum for networking to source potential business leads, partnerships, ideas, funding and other likeminded peers in the industry. MITX is headquartered in Cambridge, Mass. For more information please go to www.mitx.org.

Contacts:
Danielle Palazola
Lois Paul & Partners
781-782-5815
danielle_palazola@lpp.com