PRESS RELEASE

BURLINGTON, Mass.--(BUSINESS WIRE)--Veracode Inc., provider of the industry's first on-demand application security assessment service, announced today the appointment of Jon Stevenson as the company's senior vice president of technology and service operations. With a background of successful senior management roles at companies such as BMC and HP, Stevenson is responsible for all aspects of engineering, product management, security research and service delivery as well as managing Veracode's closed-loop continuous improvement process and overall quality of service.

"We are continuing to experience tremendous growth in our on-demand application security assessment solutions as organizations realize the value of independent verification combined with an on-demand platform that easily scales across a distributed organization," said Matt Moynahan, CEO of Veracode. "Jon will be a huge asset in driving superior customer satisfaction as we execute against our strategic vision to provide our customers with a simple and cost-effective means of securing their software infrastructure."

With over 20 years of management experience working with enterprise software companies, Stevenson brings strong market understanding and expertise to Veracode. Stevenson has extensive experience with both national and international companies as well as proven success running large venture-backed organizations.

"Information security threats continue to move to the application layer and it's become clear that independent security assessment technologies are critical in assessing the level of risk a business faces," said Jon Stevenson, Senior Vice President of Technology and Service Operations, Veracode. "Veracode is the leader in the market with a unique competitive advantage in its ability to scan binary code (executables) and provide multiple testing techniques through a single subscription. I look forward to working with this pioneering company to extend its market leadership."

Stevenson's most recent position was serving as senior vice president of engineering and operations at BladeLogic, which was acquired by BMC in April of 2008. While there, he was responsible for all aspects of engineering and support operations, including product development, product management and customer support.

Prior to joining BMC, Stevenson served as the founding vice president of engineering for AppIQ - now HP, acquired in October 2005. During his six years at AppIQ, Stevenson was a key driver for all aspects of product development of the market leading storage area network management platform. He was also responsible for customer support, training and professional services.

About Veracode

Veracode is the leading provider of on-demand application security testing solutions. Created by a world-class team of application security experts, the company delivers 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.

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/