Veracode, a Burlington, MA-based provider of a protection service, closed a late-stage $40m funding round.
The round was led by Wellington Management Company with participation from existing investors.
The company intends to use the funds to accelerate investments in sales, marketing and R&D and to consider acquisition of complementary technologies and a potential IPO.
Led by Bob Brennan, CEO, Ed Goldfinger, CFO, Veracode provides a cloud-based protection service which identifies critical application-layer threats before cyber-attackers can find and exploit them.
It offers centralized policies and KPIs to systematically reduce risk and measure progress across disparate business units and development teams, including third-party suppliers, outsourcers and open source developers. In addition, the platform is continuously learning to address constantly evolving threats, based on accumulated learning from hundreds of billions of equivalent lines of code scanned.
Veracode currently secures hundreds of large global enterprises, including three of the top four banks in the Fortune 100 and more than 25 of the world’s top 100 brands.