5.22.07 Application Development Expert Dave Litwack Joins Veracode Board Of Directors

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Application Development Expert Dave Litwack Joins Veracode Board Of Directors

Founder of Powersoft, SilverStream to help grow Veracode SecurityReview™ services

Burlington, MA. – May 22, 2007 – Veracode Inc., provider of the industry's first on-demand application security review solutions, today announced that software industry veteran Dave Litwack has been elected to the Veracode Board of Directors.

Litwack, the former CEO and co-founder of SilverStream, was unanimously approved as the first outside board member to join Veracode. He joins existing board members Maria Cirino, chairperson; Matthew Moynahan, president and CEO of Veracode; Simeon Simeonov, of Polaris Venture Partners; and Jeff Fagnan of Atlas Venture. Their biographies can be found at: http://www.veracode.com.

"Our customers whether they are purchasing software or developing it in house are using Veracode SecurityReview™ services to easily and cost-effectively improve the security of their applications," said Matthew Moynahan, president and chief executive officer of Veracode. "With the addition of Dave to our Board of Directors, we will have access to his valuable application development expertise, which will ensure that Veracode's code analysis services surpass the expectations of developers using our services within both the enterprise and ISV communities."

"Application security is a critical challenge for every business and software supplier," said Dave Litwack. Veracode is doing what no company has done before with software security analysis scanning binary code and offering an on-demand, outsourced application security solution. Veracode is poised to transform the way organizations identify and remediate security flaws in software and prevent costly exposures that can damage their business.

Litwack brings more than 20 years of experience to the Veracode Board of Directors. As executive vice president at Cullinet Software, a mainframe database management company, he oversaw the strategy and direction of product development. He then founded Powersoft, a leading client/server development tool vendor. When Powersoft was acquired by Sybase Inc., Litwack was again responsible for product development as executive vice president.

After helping to drive the first two major phases of computing mainframes and client/server Litwack co-founded SilverStream Software, one of the first companies to market a Java-based application server. SilverStream was acquired by Novell Inc, where he served as senior vice president until 2005.

Litwack earned a Bachelor's degree from Brandeis University and a Master's degree in Computer Science from Boston University. He has served as director for numerous companies, including Watermark, Atria, Trellix, eRoom, and Excelon, in addition to Powersoft and SilverStream.

He currently serves as director for 170 Systems, mValent, and EnterpriseDB.

About Veracode

Veracode is the industry's first provider of automated, on-demand application security solutions. Created by a world-class team of application security experts from @stake, Guardent, ISS, VeriSign and Symantec, the company delivers services to identify software flaws introduced through coding errors or malicious intent. Veracode's core service, SecurityReview™, uses patented binary code analysis that is uniquely able to inspect entire application inventories, including components, and does not require companies to expose their valuable source code. Enterprises can now protect their intellectual property while preventing attacks allowed by vulnerabilities in applications.

As the most accurate and comprehensive solution, Veracode makes it simple and cost-effective to implement application security best practices and reduce operational costs related to manual reviews. Whether a company is developing applications internally, purchasing software or integrating code from partners, Veracode SecurityReview provides insight to the security level of your applications. Outsourcing code analysis to Veracode is the easiest way to secure your software. With a pragmatic approach to application security, Veracode helps you fix what matters most to your business.

Based in Burlington, Mass., Veracode is backed by .406 Ventures, Atlas Venture and Polaris Venture Partners. http://www.veracode.com/