Burlington, Mass. - October 27, 2008 – Veracode Inc., the world’s leader for on-demand application security testing solutions, today announced that Bloor Research has named Veracode a “Champion” in its market update on application security. Veracode secured the top spot in the assessment of application security vendors because of the company’s balance of credibility, innovativeness and ability to challenge competitors in this highly competitive market.

“Application security must be a critical component of today’s enterprise risk management strategies as the application tier has become the attack vector of choice,” said Matt Moynahan, CEO of Veracode. “We are honored to be given the top rank by Bloor Research. It is a testament to our commitment to providing enterprises and ISVs alike with a single comprehensive and independent automated testing solution to assess software security risk – whether applications are developed offshore, in-house or purchased off-the-shelf. We will continue to innovate to make it easy and cost-effective for all enterprises to secure their software infrastructure.”

Nigel Stanley, Practice Leader for IT Security at Bloor Research said, “The application security market is an exciting place to be for a vendor. With the increased attention application security is receiving, I expect vendors such as Veracode to enjoy strong demand for their products.” He added, “Historically IT security professionals have been great at securing the infrastructure, but now they need to work with their software development colleagues to ensure applications are secure – be they internally developed or from third parties.”

A market update from Bloor Research represents a snapshot of a market at any given time. Detailed data is collected from each vendor against a number of criteria, including company financials, geographic coverage, ability to execute and product features. Vendors are offered an opportunity to validate their specific data points against an average score which provides an open and objective basis for vendor scorings. The “champion” rating indicates an established vendor with a leading market presence, an “innovator” is a vendor with a highly rated product with increasing market share and a “challenger” is an up and coming vendor in this market space. Closer to the centre of the bulls eye target is better. Market updates are refreshed on a regular basis.

Veracode enables enterprises to conduct reliable, independent security audits on the final application code as part of an organization’s formal software acceptance process, without the need for source code or costly on-site consultants. Veracode inspects the application at the same level at which it is attacked – the binaries. By assessing the final application code, Veracode ensures that all threats, including vulnerabilities and malicious code are detected, thereby providing the most complete security audit across the extended supply chain. Additionally, Veracode delivers its offerings on a software-as-a-service (SaaS) basis, ensuring that applications can be independently verified and validated, irrespective of their source without costly investments in hardware, software or training.

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 such as cross-site scripting (XSS), SQL injection, buffer overflows 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 regulatory requirements such as PCI 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.

Contact:
Beth Cossette
Lois Paul & Partners
781-782-5715
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