SOURCE: WhiteHat Security

WhiteHat Security

October 24, 2012 09:00 ET

WhiteHat Security Adds Veteran Technology Leadership to Support Rapid Growth

New Chief Financial Officer and Vice President of Human Resources Bring Two Decades of Financial and Personnel Strategy Experience to Application Security Leader

SANTA CLARA, CA--(Marketwire - Oct 24, 2012) - WhiteHat Security, the Web security company, today announced the appointment of Mark Schulte as Chief Financial Officer. With over twenty years of experience managing and growing financial operations for technology companies, including senior management roles at IronKey, Inc., Right90, Inc., WebEx and Western Digital, Schulte will bolster the company's powerhouse leadership team. Schulte is joined by Penny DeFrank, vice president of human resources, to promote the growth of WhiteHat's deep bench of security talent.

"We are transforming businesses' approach to their online security strategies and development practices with our application security solutions," said Stephanie Fohn, CEO of WhiteHat Security. "Mark is an extremely experienced executive in the enterprise technology space and is well versed in both acquisition and IPO strategies. In tandem with Penny, we have gained a wealth of experience that will take WhiteHat to the next level with a focus on well-executed financial strategies and the cultivation of a world-class workplace."

Mr. Schulte will work closely with other members of the WhiteHat executive team to set the organization's financial goals and direction. Prior to joining WhiteHat, Schulte held the role of Chief Financial Officer at both IronKey and Right90. At IronKey, he oversaw the divesture of secure storage to fund expansion of its SaaS secure trusted network, while at Right90 he oversaw its acquisition by Versata.

"It is clear to me that mobile and Web applications represent the new network perimeter. Web security is the future of security for businesses looking to maintain customer trust and implement secure development practices to effectively reduce risk. WhiteHat's focus on delivering market-leading solutions is reflected in its stellar reputation in the market and its rapid growth. I am delighted to help shape the next chapter in the company's growth and influence on the industry," said Schulte.

Known for its fast-paced and vibrant work environment, Penny will institute programs to foster leadership development and enhance the WhiteHat culture. Drawing on her experience as head of human resources at RichRelevance, Inc. and MobiTV, Ms. DeFrank will also focus on expanding the largest team of dedicated application security experts in the industry, bring new insights into attracting top talent, and DEFINE transformational people strategies that will further WhiteHat's innovative approach to security.

Building toward a record 2012, WhiteHat has solidified itself as the strongest company in Web security, adding 100 of the biggest brands in Financial Services, Healthcare, Technology and eCommerce to its customer roster in the first half of the year. To support its growing employee base, which doubled to 220 in 2012, and the tens of thousands of websites relying on WhiteHat Sentinel, WhiteHat opened a new headquarters in Santa Clara, CA. The WhiteHat Sentinel family of application security products that span across the entire software development lifecycle has proven its significant scalability during this time, processing over one million vulnerabilities per day and conducting twenty-two million application tests per week.

About WhiteHat Security, Inc.
Founded in 2001 and headquartered in Santa Clara, California, WhiteHat Security provides end-to-end solutions for Web security. The company's cloud technology platform and leading security engineers turn verified security intelligence into actionable insights for customers. Through a combination of core products and strategic partnerships, WhiteHat Security provides complete Web security at a scale unmatched in the industry. WhiteHat Sentinel, the company's flagship product line, currently manages thousands of websites -- including sites in the most regulated industries such as e-commerce, financial services and healthcare.

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