BURLINGTON, MA, — February 13, 2013 — Veracode, the application security company, has been listed at number 20 on Forbes annual ranking of America's Most Promising Companies -- a list of 100 privately held, high-growth companies with bright futures. The top 50 companies on the 2013 list appear in the February 11 print issue of Forbes and a slide show of the top 25 can be found on Forbes.com.
With application-driven data breaches increasing each year, there is an ever-growing need to secure the world's software supply chain.. Enterprise organizations have assumed unbounded risk as their investment in outsourced, commercial, SaaS, mobile and open source software increases. Veracode helps protect these organizations by identifying software vulnerabilities across the supply chain, and working with customers, developers and software vendors to correct flaws. The Veracode platform helps ensure applications, and the organizations that use them, are protected against hackers and data loss, while encouraging developers to deliver more secure software.
"It is a great honor to be recognized by Forbes as one of America's Most Promising Companies," said Bob Brennan, CEO of Veracode. It further validates the amazing work of our employees and recognizes our continued growth, which is driven by the critical need to secure the world's software. We take great pride in working with software providers and large enterprises to make them more competitive and more secure.
In 2012, Veracode experienced unprecedented growth, expanding its number of employees by 30 percent and completing its first acquisition, which deepened the company's mobile security offering. Veracode boasts a growing customer base across healthcare, financial services, media and manufacturing verticals, which include 25% of the Global 20.
For the Most Promising list, Forbes strove for a holistic gauge of young, privately-held companies, trying to pin down their trajectories by looking at a slew of variables. Over the course of six months Forbes reviewed thousands of applications, and the final assessment is based on growth (both in sales and hiring), quality of management team and investors, margins, market size and key partnerships. Forbes turned to CB Insights, a Manhattan-based data research firm that specializes in assessing private companies, to refine the search.