Veracode Recognized as “Leader” in the Gartner Magic Quadrant for Application Security Testing for Second Consecutive Report
Veracode’s cloud-based service delivers a simpler and more scalable solution for reducing global application-layer risk across web, mobile and third-party applications
BURLINGTON, Mass. — July 7, 2014 — Veracode, the application security company, today announced that it has been positioned in the “Leaders” quadrant of Gartner, Inc.’s 2014₂ “Application Security Testing Magic Quadrant”. The quadrant is based on an assessment of a company’s ability to execute and completeness of vision, and the 2014 Magic Quadrant marks the second consecutive report in which Veracode is recognized as a “Leader”. Veracode’s cloud-based service safeguards web, mobile and third-party applications for hundreds of organizations worldwide, including 3 of the top 4 banks in the Fortune 100 and more than 25 of the world’s top 100 brands. The company is widely-viewed as having unique expertise in the domain of application security as well as a pioneer in binary static analysis and assessing the security of the software supply chain.
According to the Gartner report “Global-scale scandals around critical applications' breaches have highlighted the need for effective detection of exploitable application security vulnerabilities. Application security testing is the solution for Web, cloud and mobile applications.” The report also states that: “through 2015, more than 75% of mobile applications will fail basic security tests.”
Mobile and cloud computing applications are dramatically changing the way enterprises deliver business innovation to customers and partners. At the same time, now that enterprises have effectively locked down their networks and end-points with next-generation technologies, cyber-criminals are increasingly targeting the application layer as the path of least resistance. As a result, more than half of all successful breaches are attributed to application-layer vulnerabilities - yet less than 10 percent of enterprises assess all their business-critical applications for critical security vulnerabilities, including the most commonly exploited vulnerabilities such as SQL Injection and Cross-Site Scripting.
The Gartner report also notes that “to make adoption even easier and broader, many vendors now offer cloud-based security as a service. As a result, these technologies have reached the point where cost and risk of adoption are well-balanced.”
“Every enterprise relies on software innovation to drive their business, but they need to speed their innovations to market while also being secure,” said Bob Brennan, Veracode CEO. “We view our placement in the ‘Leaders’ quadrant once again as a testament to how we are helping the world’s largest enterprises systematically reduce global application-layer risk.”
To read the full report visit: https://info.veracode.com/analyst-report-gartner-application-security-testing-magic-quadrant.html
₂ Gartner, Inc. 2014 “Magic Quadrant for Application Security Testing” by Neil MacDonald, Joseph Feiman. July 1, 2014
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