Application security testing and code analysis platforms
Strategic Profile
In 2024, Veracode achieved a milestone year characterized by significant product innovation, strategic acquisitions, customer expansion, and industry recognition, including 300+ new customers. The company has been named a Leader in the 2025 Gartner Magic Quadrant for Application Security Testing for the 11th consecutive time, positioning itself as a market-leading provider of AI-powered application risk management solutions.
Cyborg Score Rationale
Forrester Consulting research (August 2024) revealed that Veracode delivers a remarkable 184 percent return on investment and a net present value of $4.6 million with a payback period of less than six months. Market leadership, strategic product innovation including AI-assisted code remediation, and consistent customer expansion demonstrate strong competitive positioning despite private equity ownership.
Top Insights
Veracode's 2026 State of Software Security Report reveals 82% of organizations now harbor security debt—an 11% increase from the prior year
Veracode acquired Phylum (January 2025), Longbow, and Crashtest Security to expand software supply chain security capabilities
Key product innovations include Enhanced Veracode Fix combining AI and human expertise to reduce remediation time from months to minutes, empowering developers to fix vulnerabilities instantly across integrated development environments
Product portfolio includes Application Security Posture Management (ASPM), AI Code Remediation, Static Application Security Testing (SAST), Software Composition Analysis (SCA), Dynamic Application Security Testing (DAST), and Container security solutions
Named Competitors
Checkmarx — Application security testing and supply chain security platform
Snyk — Developer-first application security platform focusing on vulnerabilities and dependencies
HackerOne — Vulnerability disclosure and bug bounty platform
Fortify — Enterprise application security testing and software security solutions
Recent Developments
(January 2025) Acquired Phylum, Inc. to transform software supply chain security capabilities
(June 2025) Chief Financial Officer Simon Adell joined the company to lead financial operations and growth initiatives
(2024) Achieved record growth with 300+ new customers, two strategic acquisitions, and 11th consecutive Gartner Magic Quadrant leadership recognition
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