Network World Names Veracode to "Top 10 Security Companies to Watch" List

BURLINGTON, MA--(Marketwire - October 23, 2007) - Veracode Inc., the industry's first provider of automated, on-demand software security testing and assessment solutions, announced it has been named to Network World's "Top 10 IT Security Companies to Watch" list. Published in the October 15th issue, Veracode was selected as one of top 10 security newcomers worth watching for its application security testing on-demand service.

Recognition in Network World is one of several honors Veracode has received since launching at the RSA Conference in February. The Company was recently named to Dark Reading's list of the 10 Hottest Security Startups and was a "Best New Company" finalist at the American Business (Stevie) Awards. Not only is the company receiving accolades for its software security aptitude, but Veracode's senior management has been honored as well. This month, Veracode CEO Matt Moynahan was named to the Boston Business Journal's "40 Under 40," which annually recognizes emerging business leaders in Greater Boston.

Veracode first entered the market with its introduction of Veracode SecurityReview®; the industry's first automated, on-demand software security testing and assessment solution. SecurityReview provides organizations with a fully automated, independent assessment of an application's security posture and the operational risk it poses to an organization. Veracode SecurityReview delivers the fastest, most complete and most accurate application vulnerability assessment and code analysis in the industry by combining patented binary code analysis with dynamic web security testing to analyze 100 percent of an application.

"The majority of vulnerabilities today reside in an organization's software. As an on-demand solution that can assess static and dynamic web applications, Veracode is better positioned to help solve application security problems without the need to invest in software licenses, infrastructure and maintenance resources," said Matt Moynahan, CEO. "Recognition from Network World, a mainstay among IT publications, is both an honor and affirmation that the industry is ready for a safer, more effective alternative to traditional code scanning."

With no need to disclose proprietary source code of tested applications and because it covers 100 percent of code including libraries and components, Veracode helps software development shops and enterprises that need to test existing applications, or applications being considered for purchase. No exposure of intellectual property is necessary. Businesses can also test and rate software before deploying it in house -- as part of a secure procurement process. Veracode is able to provide secure, confidential code analysis, in addition to giving customers direct access to the expertise of the world's top application security experts.

ABOUT VERACODE

Veracode is the industry's first provider of automated, on-demand application security solutions. Created by a world-class team of application security experts, the company delivers services to identify software flaws introduced through coding errors or malicious intent. Veracode's core service, SecurityReview® uses patented binary code analysis and dynamic web analysis that is uniquely able to inspect entire application inventories, including components, and does not require companies to expose their valuable source code. Enterprises can now protect their intellectual property while preventing attacks allowed by vulnerabilities in applications.

As the most accurate and comprehensive solution, Veracode makes it simple and cost-effective to implement application security best practices and reduce operational costs related to manual reviews. Whether a company is developing applications internally or purchasing software, Veracode's SecurityReview provides insight to the security level of your applications. Outsourcing code analysis to Veracode is the easiest way to secure your software. With a pragmatic approach to application security, Veracode helps you fix what matters most to your business.

Based in Burlington, Mass., Veracode is backed by .406 Ventures, Atlas Venture and Polaris Venture Partners. www.veracode.com

Contact Information: Contact: Rachel Labas Lois Paul & Partners 781.782.5783 rachel_labas@lpp.com