Veracode Acquires Phylum, Inc. Technology to Transform Software Supply Chain Security

(BUSINESS WIRE) -- Veracode, a global leader in application risk management, today announced it has acquired certain assets of Phylum, Inc., including its malicious package analysis, detection, and mitigation technology. The acquisition enhances Veracode’s ability to identify and block malicious code in open-source libraries, marking continued investment in its software supply chain risk management capabilities. This gives customers a more comprehensive view of risks associated with open-source code usage, strengthening their defenses against emerging threats.

With software supply chain attacks projected to triple in cost from $46 billion in 2023 to $138 billion by 2031¹, safeguarding against these risks is now mission-critical for organizations. Through Phylum’s innovative technology, Veracode empowers customers to proactively prevent attacks by identifying and blocking malicious packages and vulnerabilities in real time. The addition of a package management firewall and an unmatched malicious package database further strengthens Veracode’s ability to mitigate emerging software threats before they impact customers.

Ravi Iyer, Chief Product Officer at Veracode, said, “This acquisition advances Veracode’s mission to be the most comprehensive application risk management platform by significantly expanding our ability to identify, mitigate, and remediate risks across the software supply chain. With Phylum’s unmatched database and cutting-edge research—proven to detect 60 percent more malicious packages than any other vendor—our customers will gain the confidence to innovate faster, knowing their software is protected against evolving threats.”

Veracode Prevents, Detects and Fixes Malicious Packages

Malicious packages have become a prevalent attack vector in the software supply chain, capable of infecting networks, stealing sensitive information, and enabling remote code execution. Identifying and mitigating these threats is now a critical component of any robust software composition analysis (SCA) solution. Effective tools must go beyond detection to quarantine and block suspicious packages in real-time.

With Phylum’s fully automated malicious code analysis pipeline, Veracode significantly shortens the window of opportunity for attackers. Newly published packages are analyzed within seconds, helping customers proactively prevent attacks. Phylum’s recent research identified nearly half a million malicious packages, including 2,500 targeted malware campaigns aimed at industries like finance and cryptocurrency, demonstrating the scale and sophistication of these threats.

“Uniting Veracode’s platform and Phylum’s malicious package detection and mitigation technology creates exceptional value for our customers worldwide,” said Aaron Bray, CEO & Co-founder of Phylum, Inc. “By combining our advanced research capabilities with Veracode’s industry-leading platform, we’re expanding the fight against software supply chain threats. Together, we will deliver even greater protection and peace of mind to organizations navigating an increasingly complex threat landscape, and we are excited to join the team.”

Phylum’s technology, including its malicious package database and package management firewall, will be integrated into Veracode’s SCA product, with general availability expected early this year. The acquisition also bolsters Veracode’s renowned security research team with Phylum’s experts, further elevating the company’s ability to protect customers from evolving threats.

For more information about the acquisition and software supply chain security, contact the Veracode team.

¹ Gartner Inc., “Leader’s Guide to Software Supply Chain Security”, June 20, 2024

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 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, and Penetration Testing.

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

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