Veracode Achieves Record Year with Significant Growth and Strategic Expansion

(BUSINESS WIRE) -- Veracode, a global leader in application risk management, today announced a milestone 2024, characterized by significant product innovation, strategic acquisitions, customer expansion, and industry recognition. The company’s customer base includes enterprises spanning technology, finance, insurance, public sector, and healthcare industries, including numerous Fortune 500 organizations.

"2024 has been transformative for Veracode," said Brian Roche, Chief Executive Officer at Veracode. "We've strengthened our capabilities through strategic acquisitions, enhanced our developer-centric experience, and delivered exceptional customer value. As organizations increasingly rely on open-source components and AI-generated code, they face unprecedented security risks from vulnerable dependencies and untrusted sources. We're partnering with organizations worldwide to address these emerging threats while reducing application risk across their entire software supply chain. Our momentum reflects the excellence of our team, our innovative solutions, and our unwavering commitment to customer success."

Driving Market Leadership Through Product Innovation and Expansion

Throughout the year, Veracode achieved significant product and market milestones that underscore its commitment to secure-by-design software development, through AI-powered innovation. Key highlights include:

• Enhanced Veracode Fix, combining AI and human expertise to reduce remediation time from months to minutes, empowering developers to fix vulnerabilities instantly across all integrated development environments.

• Acquisition of Longbow Security (now known as Veracode Risk Manager), expanding Application Security Posture Management (ASPM) capabilities.

• Early 2025 acquisition of technology from Phylum, strengthening open-source supply chain security to combat malicious packages in third-party code.

Exceptional Customer Growth and Return on Security Investment

Veracode’s market momentum accelerated with customer acquisition and retention globally. Over the past year, the company renewed 15 customers with an individual Annual Contract Value (ACV) exceeding $1 million and added hundreds of new customer logos. The launch of Veracode’s enhanced Velocity™ Partner Program contributed to this success through collaboration with partners including GuidePoint Security, Optiv, and Softcat, connecting Veracode’s portfolio with leading Fortune 100 companies worldwide.

Veracode’s total economic impact, a study conducted in August 2024 by Forrester Consulting, revealed that Veracode delivers a remarkable 184 percent return on investment, a net present value (NPV) of $4.6 million, and a payback period of less than six months for a $2 billion "composite organization."

"Every week, customers describe their expanding attack surface created by cloud technologies and the resulting risk management challenges," noted Roche. "We're helping CISOs at the intersection of security and business by rationalizing risks across cloud, code, and supply chains while ensuring compliance and business continuity. Unified visibility combined with contextualized prioritization and auto-remediation is the cornerstone of their success."

Strengthened Leadership and Global Expansion

Under the leadership of Brian Roche, who became Chief Executive Officer in April 2024, Veracode has bolstered its executive team with key appointments to drive growth and innovation. Recent additions welcomed Katie Kulikoski as Chief People Officer, David Wigglesworth as Chief Revenue Officer, and Karen Buffo as Chief Marketing Officer.

The company also expanded its global presence with enhanced regional and technical expertise. Sanjay Mandloi was appointed Senior Vice President of Engineering & Cloud Operations, Matt Katz joined as Vice President of Customer Success, Jean Janse van Vuuren joined as Vice President of EMEA & APAC, and Johnny Wong was promoted to Vice President of Global Solutions Architecture, leading the company’s pre-sales engineering teams globally. Jens Wessling also joined as Chief Technology Officer in the U.S., with the company’s Co-founder, Chris Wysopal, transitioning to a new role as Chief Security Evangelist.

Industry Recognition and Excellence

Veracode’s continued commitment to excellence was acknowledged with numerous awards and accolades in 2024. The company was recognized as a Gartner® Peer Insights™ Customers’ Choice for the fifth consecutive year, named a Strong Performer in The Forrester Wave™: Software Composition Analysis Software, Q4 2024, and ranked #1 ASPM product by PeerSpot. In addition, the company received multiple awards recognizing its products, dedicated team, and overall impact on the industry, including CRN Security 100 and The Boston ORBIE Award for Veracode’s CISO, Sohail Iqbal.

Looking Ahead: Veracode’s Vision for 2025

Veracode entered 2025 with a refreshed brand identity, and the company continues to focus on three strategic pillars:

• Unified visibility into application risks

• Real-time flaw remediation powered by AI

• Developer enablement to write secure code at business speed

"2024 was exceptional, but it's just the beginning," Roche concluded. "Our priority for 2025 is realizing our vision of secure code from inception. Our team's passion, expertise, and dedication will continue to propel us forward as we deliver even greater value to our customers worldwide as the trusted leader in application risk management."

About Veracode

Veracode is a global leader in Application Risk Management for the AI era. Powered by trillions of lines of code scans and a proprietary AI-assisted remediation engine, the Veracode platform offers adaptive software security and is trusted by organizations worldwide to build and maintain secure software from code creation to cloud deployment. Thousands of the world’s leading development and security teams use Veracode every second of every day to get accurate, actionable visibility of exploitable risk, achieve real-time vulnerability remediation, and reduce their security debt at scale. Veracode is a multi-award-winning company offering capabilities to secure the entire software development life cycle, including Veracode Fix, Static Analysis, Dynamic Analysis, Software Composition Analysis, Container Security, Application Security Posture Management, Malicious Package Detection, and Penetration Testing.

Learn more at www.veracode.com, on the Veracode blog, and on LinkedIn and X.

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