Total amount raised
$114.3 Millions
Latest funding date
12/1/2014
Location
Veracode has successfully raised significant funding over multiple rounds, culminating in its acquisition by TA Associates for $2.5 billion. The company specializes in providing cloud-based application security solutions, addressing the growing need for robust cybersecurity measures.
Keep reading to explore the intricacies of Veracode's fundraising journey and the investors backing this innovative platform.
What Is Veracode?
Founded in 2006, Veracode is headquartered in Burlington, Massachusetts. The company was established by Chris Wysopal, Christien Rioux, and Matt Moynahan. Veracode specializes in providing cloud-based application security solutions, ensuring the protection of critical data across software supply chains.
With a workforce of 501-1000 employees, Veracode offers a comprehensive platform to improve the security of internally developed, purchased, or outsourced software applications. Their solutions include static analysis, software composition analysis, dynamic analysis, and more.
Veracode's mission is to help businesses build and run secure software from code to cloud, leveraging AI-powered remediation and a secure software development lifecycle (SDLC). Their innovative approach addresses the growing need for robust cybersecurity measures in today's digital landscape.
How Much Funding Has Veracode Raised?
- Series A
- Amount Raised: $7.5M
- Date: March 2006
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop its initial product offerings.
- Series B
- Amount Raised: $19.5M
- Date: January 2007
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product development and market reach.
- Series C
- Amount Raised: $5M
- Date: March 2009
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and scale operations.
- Series D
- Amount Raised: $12.3M
- Date: February 2010
- Lead Investors: StarVest Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market presence.
- Series E
- Amount Raised: $30M
- Date: April 2012
- Lead Investors: Meritech Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support geographic expansion and invest in security research.
- Series F
- Amount Raised: $40M
- Date: September 2014
- Lead Investors: Wellington Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance product offerings.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: December 2014
- Lead Investors: Founders Circle Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: $114.3M
Current Valuation: $2.5 billion
Key Investors
- Founders Circle Capital
- Details: Founders Circle Capital is a venture capital firm that focuses on providing liquidity to founders, early employees, and investors of private technology companies. They aim to support companies in their growth stages by offering flexible capital solutions.
- Investment Focus Areas: Technology, Software, Internet
- Notable Investments: DocuSign, Evernote, SurveyMonkey
- Wellington Management
- Details: Wellington Management is a private, independent investment management company. They manage over $1 trillion in client assets and offer a broad range of investment solutions.
- Investment Focus Areas: Technology, Healthcare, Financial Services
- Notable Investments: Airbnb, SpaceX, Robinhood
- Meritech Capital Partners
- Details: Meritech Capital Partners is a leading venture capital firm that invests in high-growth technology companies. They have a strong track record of backing successful companies in various tech sectors.
- Investment Focus Areas: Technology, SaaS, Fintech
- Notable Investments: Facebook, Salesforce, Datadog
- StarVest Partners
- Details: StarVest Partners is a New York-based venture capital firm that invests in technology-enabled business services. They focus on companies with strong growth potential and innovative solutions.
- Investment Focus Areas: SaaS, E-commerce, Digital Media
- Notable Investments: NetSuite, MessageOne, iCrossing
- Atlas Venture
- Details: Atlas Venture is an early-stage venture capital firm that partners with entrepreneurs to build technology and life sciences companies. They have a hands-on approach to help startups grow and succeed.
- Investment Focus Areas: Biotechnology, IT, Software
- Notable Investments: Moderna, PillPack, MongoDB
What's Next for Veracode?
Veracode stands at the cusp of significant growth opportunities, driven by the increasing demand for robust application security solutions. With a diverse product portfolio and tailored industry solutions, the company is well-positioned to capitalize on the expanding market. The emphasis on AI-driven remediation and secure software development lifecycle (SDLC) integration highlights Veracode's commitment to innovation and addressing emerging cybersecurity threats.
Future fundraising efforts could be pivotal in supporting Veracode's ambitious plans for geographic expansion and product development. The company's recent $30 million funding round underscores investor confidence and sets the stage for potential future investments. However, Veracode must navigate challenges such as intense market competition and the need to continuously innovate to stay ahead of evolving threats.
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