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Application Security Is Top of Mind as Evidenced by Ounce Labs Record Growth in 2008

Posted on: Tuesday, 3 February 2009, 08:00 CST

Company Achieves Record Revenue Growth and Widespread Customer Adoption of its Application Security Testing Solution

WALTHAM, Mass., Feb. 3 /PRNewswire/ -- Ounce Labs, the industry leader in enterprise static application security testing (SAST), announced a surge in growth with a revenue increase of 195 percent in 2008 over 2007. Continued customer adoption and expansion of existing customer installations contributed to Ounce's success in 2008, while in the second half of 2008 the growth was further fueled by the company's new pricing model which lowers the traditionally high entry-point for static application security testing.

"We grew by nearly three times over our revenue growth in 2007. That, coupled with bookings growth of 98 percent in the second half compared to the first half of 2008, is a testament to the growing awareness that organizations need to minimize and control risk through static application security testing," said Ounce Labs' CEO, Gary Jackson.

Ounce Labs' exceptional growth can be attributed to the growing importance of application security to organizations concerned with data privacy and operational integrity. Application security is quickly escalating as a top-level enterprise priority as the pressure to secure personal and financial data becomes increasingly important and as organizations realize that software is the underpinning and transport medium of this data.

"The impact - financial, operational, and brand-related - of a data protection failure is weighing on the minds of many executives. As companies pull the reins back on spending, it's apparent that application security remains somewhat insulated. Once you know how vulnerable you are, it's hard to ignore the problem. The risk and costs associated with breaches is too great for companies to bear in this type of economic environment when everyone's brand needs to be safeguarded to assure future revenue streams. Ounce's continued success is directly attributable to our commitment of making application security available to every organization, and is further ensured by providing our customers with the most cost-effective solution for ensuring applications are secure and minimizing their security risk exposure," added Jackson.

"Proactively building security into applications as they are being developed can save a tremendous amount of resources when compared to fixing errors after applications have been deployed. More importantly, there has been a significant increase in financially-motivated attacks at the application level. As awareness of this changing threat environment grows, so will the market for automated source code analysis tool," says VP and Gartner Fellow, Neil MacDonald.

Ounce 6, Ounce Labs' flagship product, is the only comprehensive, enterprise static application security testing (SAST) solution that meets the demands of today's enterprises committed to eliminating business-critical vulnerabilities in software. It scans code quickly and delivers actionable information across customers' application portfolios down to individual lines of vulnerable code. Right out of the box, Ounce quickly delivers report cards, detailed metrics, and remediation advice that provide appropriate insight to eliminate application vulnerabilities.

2008 highlights include:

-- Continued Product Innovation: The latest version of the company's flagship product - Ounce 6 - which was released in August 2008, offered enhancements including: an open Data Access API; integration with Oracle databases; OEM-level integration with the SlickEdit professional code editor; major analysis improvements including support for .NET and Java byte code; custom reporting using the new SmartAudit Editor, more flexible scanning and a "click-and-go" configuration wizard; and a 300- percent boost in performance. More information can be found at http://www.ouncelabs.com/solutions/ounce-source-code-analysis.asp

-- New Executive Management: Ounce Labs hired new CEO Gary Jackson, who brings 25 years of experience evolving start-up companies into market leaders. The company hired Jennifer Sullivan as its chief marketing officer, a position to which she brings 14 years of global enterprise software marketing experience, and Bill Varga as executive vice president of sales and business development, who brings more than 20 years of experience in successfully building business development organizations that thrive in emerging, high growth markets. Ounce also added Andy Bochman as director, customer advocacy, to support Ounce's ongoing commitment to customer success.

-- Strong Financial Support: In addition to its record growth, Ounce secured $7.5 million in funding from venture capital firms Greylock Partners and Commonwealth Capital Ventures, which Ounce will use to optimize the company's operations and accelerate its market presence.

-- Fourth Patent Granted: The U.S. Patent Office granted Ounce Labs its fourth patent for security source code analysis, continuing to validate the company's innovation and building on its intellectual property.

-- Simple, Public Pricing: The company announced a dramatic change to its pricing and licensing models, resulting in markedly lower costs and complexity for customers. The new pricing schedule will speed the time to value and ensure that every organization can afford, deploy, and capitalize on source code scanning to protect their critical data. For more information or to review the pricing structure, visit: http://www.ouncelabs.com/solutions/ounce-source-code-analysis-pricing.asp.

-- Industry Recognition and Contribution: Ounce Labs was recognized as a "Champion" in the Application Security Market Update from Bloor Research in October 2008. Ounce Labs also won a prestigious 2008 Dr. Dobb's Jolt Productivity Award in the Security Tools category and was named a finalist for a CODiE Award from the Software & Information Industry Association. Ounce also had featured speakers at RSA, InfoSec, SecureGOV, Software Test & Performance, Software Assurance Forum, OWASP Application Security, LifeCycle Security, Forrester Forum, CSO Executive Series, CSI and DeepSec. Ounce Labs CTO and co-founder, Jack Danahy was appointed to the board of directors of the Payment Card Industry Security Vendor Alliance (PCI SVA). Ounce was also named the fastest growing security testing company based on year over year 2006 and 2007 market share growth for the application development market based on total software revenue, according to recent Gartner market data(1).

(1)Gartner Dataquest Market Statistics; 'Market Share: Application Development Software, Worldwide, 2007', L. Wurster, T. Jones, and A. Raina, 2008.

About Ounce Labs, Inc.

Ounce Labs' industry-leading Static Application Security Testing (SAST) suite brings enterprise-wide awareness of business critical vulnerabilities. With this ability to identify and prioritize issues, organizations have the information they need to address their greatest risks. Ounce's patented source code analysis delivers the scalability and automation to help organizations such as EDS, IBM, Intel, and Lockheed Martin strengthen application security and protect confidential information. Ounce also helps organizations to verify regulatory and policy compliance, addressing PCI DSS, FISMA, HIPAA and others. For more information, please visit www.ouncelabs.com.

Ounce Labs is a registered trademark of Ounce Labs, Inc. in the United States and other countries. Other product or service names mentioned herein are the trademarks of their respective owners.

MEDIA Jennifer Sullivan Brenda Menard CONTACTS: Ounce Labs Davies Murphy Group 781.547.7013 781.418.2435 jennifer.sullivan@ouncelabs.com ounce@daviesmurphy.com http://www.ouncelabs.com http://www.daviesmurphy.com

SOURCE Ounce Labs

Source: PR Newswire

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