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Veracode Positioned as Visionary in Gartner’s 2009 Magic Quadrant for Static Application Security Testing

Veracode Inc., the leading provider of on-demand application security testing solutions, today announced that leading research firm, Gartner, Inc., has placed Veracode in the “Visionary” quadrant of its "2009 Magic Quadrant for Static Application Security Testing.” This achievement follows Gartner’s inclusion of Veracode in their prestigious “Cool Vendors in Application Security and Authentication” report in 2008 and Bloor Research naming Veracode a “Champion” in their recent “Application Security Market Update” report.

“Software applications pose a growing threat to businesses and managing application risk is a critical component of enterprise security strategies for 2009,” said Matt Moynahan, CEO of Veracode. “We are honored to have been named by Gartner as a Visionary and to have gained widespread industry acceptance and traction in such a short period of time. It is a testament to our commitment in providing enterprises and software vendors with a comprehensive and independent automated solution to assess application security risk.”

The Gartner report highlights two key market findings which uniquely position Veracode:

  • Testing as a service (SaaS) will have a significant impact on the application security market.
  • The ability of Static Application Security Testing (SAST) solutions to scan applications where the source code is unavailable is a significant trend.

Enterprises face tightening regulatory and compliance requirements in the midst of challenging economic conditions requiring them to do more with less. Veracode is the only solution provider in the Magic Quadrant that offers automated static and dynamic application security testing as a service; and that has delivered the capability to scan executable code in binary format without requiring source code. This unique set of qualifications empowers businesses to reduce risk without the capital expenditures and implementation costs associated with on-premise hardware and software tools.

Veracode recently announced record growth and customer acquisition for 2008. The rapid growth experienced in the U.S. and Europe was further accentuated by winning prestigious awards from the Wall Street Journal, The Banker and SC Magazine. The year was also highlighted by a strategic investment and technology advancement agreement with In-Q-Tel, the independent strategic investment firm that identifies innovative technology solutions to support the mission of the broader U.S. Intelligence Community. In-Q-Tel’s investment has enabled Veracode to accelerate specific research areas for government, commercial and open source applications.

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.

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