Burlington, Mass. – July 30, 2009 – Veracode Inc., provider of the world’s leading Application Risk Management services platform, today announced it has achieved a stunning 700% growth in bookings in the first half of 2009 despite the global economic downturn. The first two quarters of the year saw strong customer adoption in the enterprise, federal and ISV segments with over double the number of customers compared to the same period in 2008. The achievement was further accentuated by prestigious awards that recognized the company’s unique approach to application risk management, including SC Magazine’s “Best Security Solution for Financial Services” and being named to the SD Times 100 list.
Given the explosion of data breaches and a tightening regulatory environment, application security and the corresponding need to manage risk across an organization’s entire software portfolio are top of mind for CIOs, CISOs and VPs of Engineering. In April, Veracode expanded its SecurityReview® cloud-based subscription service to further simplify managing application security risk and regulatory compliance while improving developer productivity. The enhanced Application Risk Management services platform enables organizations to cost-effectively implement centralized governance for software security across their entire portfolio using Veracode’s patented binary code analysis while simultaneously providing a continuous skills development model for internal and extended development teams.
“Veracode’s recent service enhancements and record growth demonstrate the increasing customer demand for complete solutions that enable them to implement effective enterprise-wide application security programs.” Matt Moynahan, CEO of Veracode. “Legacy on-premises source code tools have not met this demand and are either exiting the market or being absorbed as a feature in other vendor products. Organizations need an independent solution to meet compliance requirements which is simple to deploy and doesn’t burden their procurement or development processes.”
Industry adoption was strong with many new customer additions including:
“We are pleased with Veracode’s continued strong performance of record bookings and marquee customer acquisitions despite a challenging economic climate” said Maria Cirino, Chairperson, Veracode Board of Directors. “Both intentional and accidental application security failures are increasing and organizations clearly have a sense of urgency about fixing them. Veracode’s patented automated application vulnerability detection services and Verified by Veracode certifications are just what the companies need now.”
About Veracode
Veracode provides the world’s leading Application Risk Management Platform. Veracode SecurityReview‘s patented and proven cloud-based capabilities allow customers to govern and mitigate software security risk across a single application or an enterprise portfolio with unmatched simplicity. Customers include the world’s largest and most security aware organizations in every industry. Recognized as a Gartner “Cool Vendor,” The Wall Street Journal’s “Technology Innovation Award,” The Banker’s “Information Security Project of the Year” with Barclays, SC Magazine’s “Best Vulnerability Assessment Solution,” Information Security “Readers’ Choice Award,” and AlwaysOn Northeast’s “Top 100 Private Company,” Veracode is Software Security Simplified™. For more information, visit www.veracode.com.
Beth Cossette
Lois Paul & Partners
781-782-5715 Beth_Cossette@lpp.com