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BURLINGTON, MA -- (Marketwired) -- 07/07/14 -- Veracode, the application security company, today announced that it has been positioned in the "Leaders" quadrant of Gartner, Inc.'s 2014's "Application Security Testing Magic Quadrant". The quadrant is based on an assessment of a company's ability to execute and completeness of vision, and the 2014 Magic Quadrant marks the third consecutive report in which Veracode is recognized as a "Leader." Veracode's cloud-based service safeguards web, mobile and third-party applications for hundreds of organizations worldwide, including three of the top four banks in the Fortune 100 and more than 25 of the world's top 100 brands. The company is widely viewed as having unique expertise in the domain of application security as well as a pioneer in binary static analysis and assessing the security of the software supply chain.

According to the Gartner report, "Global-scale scandals around critical applications' breaches have highlighted the need for effective detection of exploitable application security vulnerabilities. Application security testing is the solution for web, cloud and mobile applications." The report also states "through 2015, more than 75% of mobile applications will fail basic security tests."

Mobile and cloud computing applications are dramatically changing the way enterprises deliver business innovation to customers and partners. At the same time, now that enterprises have effectively locked down their networks and endpoints with next-generation technologies, cyber criminals are increasingly targeting the application layer as the path of least resistance. As a result, more than half of all successful breaches are attributed to application-layer vulnerabilities -- yet less than 10 percent of enterprises assess all their business-critical applications for critical security vulnerabilities, including the most commonly exploited vulnerabilities such as SQL Injection and Cross-Site Scripting.

The Gartner report also notes "to make adoption even easier and broader, many vendors now offer cloud-based security as a service. As a result, these technologies have reached the point where cost and risk of adoption are well-balanced."

"Every enterprise relies on software innovation to drive their business, but they need to speed their innovations to market while also being secure," said Bob Brennan, Veracode CEO. "We view our placement in the 'Leaders' quadrant for the third consecutive year as a testament to how we are helping the world's largest enterprises systematically reduce global application-layer risk."

To read the full report visit: https://info.veracode.com/analyst-report-gartner-application-security-testing-magic-quadrant.html

₂ Gartner, Inc. 2014 "Magic Quadrant for Application Security Testing "by Neil MacDonald
Joseph Feiman. July 1, 2014

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About Veracode
Veracode delivers the most widely used cloud-based platform for securing web, mobile, legacy and third-party enterprise applications. By identifying critical application-layer threats before cyber-criminals can find and exploit them, Veracode helps enterprises deliver innovation to market faster -- without sacrificing security.

Veracode's powerful cloud-based platform, deep security expertise and programmatic, best practices approach provide enterprises with a simpler and more scalable way to reduce application-layer risk across their global software infrastructures.

Veracode secures hundreds of the world's largest global enterprises, including 3 of the top 4 banks in the Fortune 100 and more than 25 of the world's top 100 brands. Learn more at www.veracode.com, on the Veracode blog and on Twitter.