News
Veracode Secures $30M in Additional Funding and Expands Executive Team
April 2012 by Marc Jacob
Veracode, Inc. announced it has secured $30M in additional funding from Meritech Capital Partners and existing investors — Atlas Venture, .406 Ventures and StarVest Partners. Veracode is the only company that can provide scalable application security as a service to help commercial enterprises and government agencies address the acute threat posed by hackers.
The recently released 2012 Verizon Data Breach Report[1] highlights the need for enterprises to secure their applications. The report found the largest proportion of hacking style attacks, 54%, are web application-related for large organizations.
To capitalize on its market momentum, Veracode is recruiting talent around the world and added 47 new hires in the first quarter, including key executive additions Ed Jennings, who joins Veracode as Executive Vice President of Sales, Marketing & Services, and Greg Nicastro who joins as Executive Vice President, Product Strategy and Development. The company will continue to hire aggressively across engineering, operations, sales, customer service and marketing with plans to double the workforce by December, 2012.
Veracode’s plans in 2012 include continued growth of its application security-as-a- service platform, geographic expansion and investments in security research to identify Zero Day vulnerabilities that threaten global enterprises.
