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Exciting innovator in application security demonstrates growing momentum and market recognition

Burlington, Mass, 13 February 2008 - Veracode, the first provider of on-demand application security testing, announced today that it has been shortlisted within two categories within the SC Magazine Awards Europe. It is a finalist both for the Technology Innovation Award and also for the Best Vulnerability Assessment Product Award. The SC Awards are voted on by an international group of senior CSOs. Winners will be announced at the SC European Awards Gala Dinner on 22 April 2008 at the Hurlingham Club in London.

The key judging criteria for any product shortlisted was that it should have made “a significant contribution to genuine technical progress or change in the infosecurity business.”

“We founded Veracode on the belief that if we make what once was cost-prohibitive and too technical available with the right business model and price point, organisations would take appropriate steps to secure internally developed code and implement best practices for assessing third party risk”, said Matt Moynahan, CEO of Veracode. “Through the power of the on-demand business model coupled with industry leading innovation for testing applications, we believe we are helping to change the face of application testing. We have already gained a strong foothold in the US market and are gathering momentum here in Europe – although we only formally launched one year ago in the US and our outreach in to Europe is even more recent.”

Veracode is the only company to offer application security testing on a software-as-a-service subscription basis. Veracode’s SecurityReview® is the first solution to enable organisations to discover security flaws in software automatically, without releasing their valuable source code. Whether a company is buying or building software Veracode helps improve the security quality of applications without the need to hand over precious intellectual property by providing comprehensive identification and remediation of the security flaws contained in binary code, the very foundation of today’s software applications.

“I congratulate all those businesses and individuals who have been short-listed and look forward to welcoming them to the Awards night in April”, said Paul Fisher, Editor, SC Magazine UK.
Veracode is currently also shortlisted as “Rookie Security Company of the Year” in the US SC Awards programme to be announced at RSA in San Francisco on 8 April. Other industry accolades achieved to date include being named as one of 10 Hot Security Startups by Dark Reading, one of 10 Security Companies to Watch by Network World and a finalist in the American Business Awards. The Company’s CEO, Matt Moynahan, was also selected as one of Boston Business Journal’s “40 Under 40.”

About the SC Awards Europe

The SC Awards Europe are widely considered the most prestigious awards programme in the information security industry and stand out as a true benchmark of achievement. Now in their thirteenth year, the Awards have a long-standing tradition of promoting excellence. The 2008 Awards presentation will be held on 22 April at the Hurlingham Club in London. For further detail, visit www.scmagazine.com/uk/awards

About Veracode

Veracode is the leading US provider of on-demand application security testing solutions. Created by a world-class team of application security experts, the company was launched in the US last year to deliver 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. SecurityReview is already gaining strong traction in the North American market (customers include two billion dollar Canadian telecoms company, TELUS) and is currently being taken by a leading financial organisations in the UK.
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. http://www.veracode.com/

Media Contacts:

Paula Averley
Folwell PR
Tel: (44) (0)208 224 9933
Mob tel: (44) (0)7766 257776
Email: paula@folwellpr.co.uk



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