SOURCE: Veracode

August 13, 2007 10:04 ET

Veracode President and CEO Matt Moynahan Named One of Boston Business Journal's 40 Under 40

Recognizes Accomplishment of Greater Boston Leaders

BURLINGTON, MA--(Marketwire - August 13, 2007) - Veracode®, Inc. today announced that President and CEO Matt Moynahan has been honored with the Boston Business Journal's prestigious "40 Under 40" award. The award recognizes 40 promising Greater Boston area business and civic leaders under the age of 40 who have made significant contributions in their respective fields.

Honorees are selected by an editorial committee after the Boston Business Journal solicits nominations from the business community.

Moynahan oversaw the very successful launch of Veracode in January 2007, raising $19.5 million dollars in venture capital funding and rolling out the first automated, on-demand software security review solution, which reduces the vulnerabilities in software that put businesses at risk. In July he was at the forefront of an industry breakthrough when he introduced Veracode's Software Security Ratings for determining the security levels in software, and he issued a challenge to the software industry to test software for security quality before deployment, in the same way automobiles are crash tested for safety.

"I am honored to receive a Boston Business Journal 40 Under 40 award," said Moynahan. "We have greatly benefited from the opportunities that the Boston area offers as a vibrant education and technology center, and I am grateful to be identified as a contributor to this community. I look forward to continuing to give back to the community personally and professionally as we grow Veracode."

Originally from Gloucester, Mass., Moynahan attended Williams College and Harvard Business School and has held senior positions at Goldman Sachs, One Wave and Reciprocal. He most recently had been the Vice President of the $2 billion Consumer Products and Solutions division at Symantec. He was recruited to lead Veracode by Atlas and Polaris Ventures, and by Maria Cirino, partner at .406 Ventures and former CEO of Guardent, also a former 40 Under 40 award winner.

Moynahan is leading Veracode in its mission to reduce the number of software vulnerabilities in the industry by making it easy and cost effective for all companies to test software for security risks, whether they are developing the software in-house or purchasing applications from a third-party vendor.

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 from @stake, Guardent, VeriSign and Symantec, the company delivers services to identify software flaws introduced through coding errors or malicious intent. The Veracode SecurityReview™ solution uses patented binary code 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 available, 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 SecurityReview provides insight to the security level of software. 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.

For more information about Veracode, please visit www.veracode.com.

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