Veracode

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Veracode, Inc.
Company type
Private
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Headquarters
Burlington, Massachusetts
,
United States
Key people
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  • Brian Roche, CEO
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OwnerCA Technologies (2017-18)
Broadcom, Inc. (2018)
Thoma Bravo (2018-22)
TA Associates (2022-present)
Number of employees
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Websitewww.veracode.com

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Veracode is an application security company based in Burlington, Massachusetts. Founded in 2006, it provides SaaS application security that integrates application analysis into development pipelines.[1]

The company provides multiple security analysis technologies on a single platform, including static analysis (or white-box testing), dynamic analysis (or black-box testing), and software composition analysis.[2][3] Veracode serves over 2,500 customers worldwide and, as of February 2021, has assessed over 25 trillion lines of code.[4]

History

Veracode was founded by Chris Wysopal and Christien Rioux, former engineers from @stake, a Cambridge, Massachusetts-based security consulting firm known for employing former "white hat" hackers from L0pht Heavy Industries.[5] Much of Veracode's software was written by Rioux.[6] In 2007, the company launched SecurityReview, a service which can be used to test code in order to find vulnerabilities that could lead to cybersecurity breaches or hacking. The service is intended to be used as an alternative to penetration testing, which involves hiring a security consultant to hack into a system.[6] On November 29, 2011, the company announced that it had appointed Robert T. Brennan, former CEO of Iron Mountain Incorporated, as its new chief executive officer.[7]

As of 2014, Veracode's customers included three of the top four banks in the Fortune 100.[8][9] Fortune reported in March 2015 that Veracode was prepared to file for an initial public offering (IPO) but ultimately did not follow through.[10][11] In a funding round announced in September 2014, the firm raised Template:Currency in a late-stage investment led by Wellington Management Company with participation from existing investors.[8]

In the company's annual cybersecurity report for 2015, it was found that most sectors failed industry-standard security tests of their web and mobile applications and that government is the worst performing sector in regards to fixing security vulnerabilities.[12][13] This annual report also found that "four out of five applications written in popular web scripting languages contain at least one of the critical risks in an industry-standard security benchmark."[14]

On March 9, 2017, CA Technologies announced it was acquiring Veracode for approximately $614 million in cash,[15] and the acquisition was completed on April 3, 2017.[16]

On July 11, 2018, Broadcom announced that it was acquiring Veracode parent CA Technologies for $18.9 billion in cash.[17] The acquisition was completed on November 5, 2018, and Broadcom thus became the new owner of the Veracode business.[18] On the same day, Thoma Bravo, a private equity firm headquartered in San Francisco, California, announced that it had agreed to acquire Veracode from Broadcom for $950 million cash.[19][20]

Upon Thoma Bravo's acquisition of the company, Sam King replaced Bob Brennan as CEO.[21]

Veracode's 2020 annual cybersecurity report found that half of application security flaws remain open 6 months after discovery.[22] In 2020, Veracode scanned over 11 trillion lines of code, helping to correct approximately 16 million flaws.[4]

In March 2022, the company was acquired by TA Associates at a valuation of $2.5 billion.[23]

In April 2024, Brian Roche replaced Sam King as CEO, following Veracode's acquisition of Longbow Security.[24]

In January 2025, Veracode acquired Phylum Inc. The acquisition enhances Veracode's ability to identify and block malicious code in open-source libraries.[25]

Technical integrations

Veracode's Static Application Security Testing solution provides users with integrations with most workflow applications.[citation needed]

Channel model

Veracode applies a mixed channel model, using local resellers to reach customers but also doing business direct with enterprise size global accounts. The company collaborates with partners across various regions, including North America, Latin America, EMEA and the Asia-Pacific. Veracode provides a "Find a Partner" tool on its website, enabling prospective customers to identify and connect with authorized partners in their area. New resellers are added on a regular basis.[26]

See also

References

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  1. ^ Page Module:Citation/CS1/styles.css has no content."Veracode Application Security Testing (AST) - Leader in Gartner MQ". Digital Marketplace Gov.UK. Archived from the original on 2023-11-06.
  2. ^ Page Module:Citation/CS1/styles.css has no content.Janardhanudu, Girish (26 September 2005). "White Box Testing". Cybersecurity & Infrastructure Security Agency. Archived from the original on 10 April 2021. Retrieved 24 March 2021.
  3. ^ Page Module:Citation/CS1/styles.css has no content."Dynamic Black-Box Testing: Testing the Software While Blindfolded". Flylib.
  4. ^ a b Page Module:Citation/CS1/styles.css has no content."AppSec Market Leader Veracode Continues Strong Growth and Business Momentum". Yahoo! Finance. February 4, 2021. Archived from the original on April 26, 2021. Retrieved April 26, 2021.
  5. ^ Page Module:Citation/CS1/styles.css has no content.Messmer, Ellen (2007-01-09). "Start-up Veracode offers code security evaluation online". Network World. Archived from the original on 2007-05-05. Retrieved 2010-02-16.
  6. ^ a b Page Module:Citation/CS1/styles.css has no content.Fitzgerald, Michael (April 22, 2007). "To Find the Danger, This Software Poses as the Bad Guys". New York Times. Retrieved 11 October 2016.
  7. ^ Page Module:Citation/CS1/styles.css has no content.Denison, D.C. (2011-11-29). "Veracode hires Iron Mountain CEO". Boston Globe. pp. B5 ff. Archived from the original on 2012-04-15.
  8. ^ a b Page Module:Citation/CS1/styles.css has no content.Nusca, Andrew (2014-09-11). "With some swagger, security firm Veracode preps for an IPO". Fortune.com. Retrieved 2014-09-12.
  9. ^ Page Module:Citation/CS1/styles.css has no content."Cybersecurity firm Veracode to hire 100 next year, readies for IPO". Boston Business Journal. 2014-12-09. Retrieved 2014-12-10.
  10. ^ Page Module:Citation/CS1/styles.css has no content.Primack, Dan (March 2, 2015). "Exclusive: Veracode files for IPO". Fortune. Retrieved 11 October 2016.
  11. ^ Page Module:Citation/CS1/styles.css has no content.Dan Primack (7 March 2017). "CA is buying Veracode for $614 million". Axios. Retrieved 16 November 2023.
  12. ^ Page Module:Citation/CS1/styles.css has no content.Palmer, Danny (June 23, 2015). "Government is worst industry sector for fixing security vulnerabilities, claims Veracode". Computing. Archived from the original on 2015-07-01. Retrieved 11 October 2016.
  13. ^ Page Module:Citation/CS1/styles.css has no content.Ward, Marguerite (June 23, 2015). "All industries fail cybersecurity, govt the worst". CNBC. Retrieved 11 October 2016.
  14. ^ Page Module:Citation/CS1/styles.css has no content.Ashford, Warwick (December 3, 2015). "Veracode finds most web apps fail Owasp security check list". Computer Weekly. Retrieved 11 October 2016.
  15. ^ Page Module:Citation/CS1/styles.css has no content."CA Technologies to Acquire Veracode, a Leading SaaS-based Secure DevOps Platform Provider". CA Technologies. 2017-03-06. Archived from the original on 2018-01-10.
  16. ^ Page Module:Citation/CS1/styles.css has no content."CA Technologies Completes Acquisition of Veracode". CA Technologies. 2017-04-03. Archived from the original on 2018-11-07.
  17. ^ Page Module:Citation/CS1/styles.css has no content."Broadcom to Acquire CA Technologies for $18.9 Billion in Cash". Broadcom. 2018-07-11.
  18. ^ Page Module:Citation/CS1/styles.css has no content."Broadcom Inc. Completes Acquisition of CA Technologies". Broadcom. 2018-11-05.
  19. ^ Page Module:Citation/CS1/styles.css has no content."Thoma Bravo to Acquire Veracode Software from Broadcom Inc". Thoma Bravo. 2018-11-05.
  20. ^ Page Module:Citation/CS1/styles.css has no content."Veracode sold to Thoma Bravo for $950 million". CyberScoop. 2018-11-05. Retrieved 2020-09-04.
  21. ^ Page Module:Citation/CS1/styles.css has no content."Veracode to be acquired by private equity firm for $950M". bizjournal. Retrieved 16 November 2023.
  22. ^ Page Module:Citation/CS1/styles.css has no content.Raywood, Dan (October 28, 2020). "Report: Application Flaws Being Fixed Faster Although Bugs Persist". Infosecurity Magazine.
  23. ^ Page Module:Citation/CS1/styles.css has no content.Peter Cohan. "5 Ways This $2.5 Billion Tech Company Takes the Lead". Inc. Retrieved 16 November 2023.
  24. ^ Page Module:Citation/CS1/styles.css has no content.Novinson, Michael (2024-04-03). "Veracode Promotes Brian Roche to CEO, Buys Longbow Security". BankInfoSecurity.com. Retrieved 2024-05-06.
  25. ^ Page Module:Citation/CS1/styles.css has no content.Ryan Naraine (7 January 2025). "Veracode targets malicious code threats with Phylum acquisition". Retrieved 16 January 2025.
  26. ^ Page Module:Citation/CS1/styles.css has no content."Macanta partnert met Veracode". 19 August 2024. Retrieved 24 January 2025.

Further reading

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