SOURCE: Veracode

October 03, 2007 11:00 ET

Veracode Appoints Susan Ledoux as Chief Financial Officer

Experienced CFO to Grow and Enhance Stakeholder Relationships

BURLINGTON, MA--(Marketwire - October 3, 2007) - Veracode Inc., provider of the industry's first on-demand application security review solutions, announced today the appointment of Susan Ledoux as the company's chief financial officer. Ledoux brings to Veracode nearly 20 years of financial and operational experience.

"The recruitment of a new CFO is an important strengthening of Veracode's corporate management," said Matt Moynahan, CEO of Veracode. "Susan's extensive financial background in leading companies through organic expansion as well as through mergers and acquisitions will be a valuable asset, and we look forward to her contributions. As Veracode continues to grow, Susan will be a key member of the leadership team."

As CFO, Ledoux will oversee Veracode's finance organization, and will work to enhance its relationships with investors, channel partners, and customers.

"The importance of application security continues to grow rapidly, and I am excited to now be part of a company at the forefront of innovation, providing that security as an on-demand service," Ledoux said. "I look forward to contributing to Veracode's success and the strength of its leadership team."

Ledoux's nearly twenty years of financial experience includes equity funding, business strategy, M&A transactions and operations at both early-stage technology companies and public companies. Most recently, Ledoux was CFO of PanGo Networks, Inc, a leading provider of location management and asset tracking software and services that was sold in March 2007 to Texas-based Innerwireless, Inc. Prior to PanGo, Ledoux was CFO of Chantry Networks, where she was a key contributor toward the company's successful acquisition by Siemens. She was also CFO & Treasurer of Firepond, Inc., a publicly traded provider of software solutions. As the company's corporate controller, Ledoux played an instrumental role in Firepond's successful $110 million IPO in February 2000. Ledoux also was controller at a number of public and privately-held companies, including Integrated Computing Engines, a developer of multiprocessing software and hardware, and CIC Systems, a national computer reseller. She began her career at Ernst & Young.

A certified public accountant, Ledoux earned her MBA from Babson College and has a bachelor's degree from Bentley College.

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, purchasing software or integrating code from partners, 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

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