Veracode Secures $30M in Funding

Veracode, Inc., a Burlington, MA-based provider of application security services, has secured $30m in additional funding.

Backers include Meritech Capital Partners and existing investors Atlas Venture, .406 Ventures and StarVest Partners.

The company intends to use the funds to continue to hire across engineering, operations, sales, customer service and marketing with plans to double the workforce by December, 2012. Veracode is recruiting talent around the world and added 47 new hires in the first quarter, including key executive additions Ed Jennings, who joins Veracode as Executive Vice President of Sales, Marketing & Services, and Greg Nicastro who joins as Executive Vice President, Product Strategy and Development.
Plans in 2012 also include continued growth of its application security-as-a- service platform, geographic expansion and investments in security research to identify Zero Day vulnerabilities that threaten global enterprises.

Led by CEO Bob Brennan, Veracode provides cloud-based application intelligence and security verification services. Its platform provides a comprehensive suite to improve the security of internally developed, purchased or outsourced software applications and third-party components. It combines patented static, dynamic and manual testing, eLearning capabilities, and advanced application analytics, to enable scalable, policy-driven application risk management programs that help identify and eradicate numerous vulnerabilities.
The company currently works with customers in more than 80 countries worldwide representing Global 2000 brands.




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