Veracode Announces Significant Growth Investment From TA Associates

Veracode Announces Significant Growth Investment From TA Associates

I am pleased to share the exciting news that TA Associates (“TA”), a leading global growth equity firm, has signed an agreement to make a strategic growth investment in Veracode, taking a majority equity position in the business. Thoma Bravo will also continue to be an investor alongside TA. This new partnership is forming at a critical moment in the evolution of the software security market. Enterprises across all industry verticals need a platform and a partner that can help them secure the software that runs our world. We are excited to partner with TA and Thoma Bravo to do exactly that for our customers and deliver the best outcomes for both their development and security teams.

Today’s news represents another step on the journey that began even before Veracode was incorporated, when Weld Pond, our founder and CTO Chris Wysopal, and his colleagues at L0pht testified to the US Congress about the need to secure software. Since our founding, Veracode has consistently led the way to increase awareness about the security risks present in software and the need for secure coding training for developers. We have also continually strived to deliver the most comprehensive platform to empower organizations to secure their code.

In 2008 Veracode was the first provider to combine multiple AppSec testing techniques (static and dynamic) in one platform. In 2014, we added Software Composition Analysis to the platform becoming the first AppSec vendor to do so. In 2017 we were the first to bring static code analysis into the IDE. In 2018 we doubled down on Software Composition Analysis with our acquisition of SourceClear. And, in 2020 we introduced Security Labs built from our acquisition of Hunter2, a fast pipeline scanner for DevOps pipelines, and became the first vendor in our market segment to achieve AWS DevOps competency status.

Because our platform was built as a multi-tenant cloud platform, we now have over 15 years of aggregated data enabling our customers to benefit from the collective experience, even benchmarking their performance against that of their industry peers. Further, our relentless focus on helping our customers fix, rather than simply find, security flaws as well as our emphasis on educating developers in secure coding practices raises the bar for the entire industry. We have the distinction of scanning over 53 trillion lines of code to date and, more importantly, working with developers to fix over 71 million security flaws. Our customer-centric approach has driven our success because it is premised on their success.

I want to thank our over 2600 customers and partners across the globe for placing your trust in us. It is a privilege and an honor to serve your needs, particularly as the confluence of digital transformation, software supply chain security, and strengthening regulatory environment place software security firmly in the spotlight. We know the important missions you serve from revolutionizing banking and healthcare to enabling secure commerce to transforming manufacturing to expanding online education and e-government services. The entire Veracode team is passionate about our mission to ensure that the software that powers your world is secure, and we are committed to enabling you to build and deliver secure software at the speed that business demands.

I also want to thank the entire Veracode team. We have been fortunate to achieve milestones that only a small number of aspiring software start-ups ever achieve and it’s the passion, commitment, and hard work of all Veracoders that enabled us to get to this point in our journey. Our collective passion for our mission is what brought us together, pushes us forward, and continually drives us to innovate to deliver the best outcomes for those that place their trust in us. I am deeply grateful to everyone on the Veracode team for their tireless efforts and commitment to our mission. You truly are what makes Veracode special.

Today’s news is validation that our mission and approach to realizing it is the correct path for our customers, our teammates, our business, and for the market overall.

I am thankful for Thoma Bravo’s support and investment in our business three years ago. It has helped us to reach this milestone and we’re grateful that they will remain part of the Veracode family. I am excited to welcome TA as our partner on the next phase of Veracode’s journey. I look forward to partnering with TA, leveraging their experience and track record scaling growth businesses, to accelerate the realization of our product vision.

Software security matters today, because software matters today, more than it ever has before.

I am excited for all Veracoders, for our customers, for our partners, for this next chapter of the Veracode journey.

Sam King is the Chief Executive Officer of Veracode and a recognized expert in cybersecurity, the emerging practice of DevSecOps and business management. As a founding member of the Veracode team, Sam helped lead the establishment and growth of the application security category working with industry experts and analysts. In her current role, Sam is focused on company growth and helping customers achieve their missions through the creation of secure software. Prior to Veracode, Sam held leadership positions in cybersecurity and technology companies including Verisign and Razorfish.