Veracode Closes $40M Funding

Veracode, a Burlington, MA-based provider of a protection service, closed a late-stage $40m funding round.The round was led by Wellington Management Company with participation from existing investors.The company intends to use the funds to accelerate investments in sales, marketing and R&D and to consider acquisition of complementary technologies and a potential IPO.Led by Bob Brennan, CEO, Ed Goldfinger, CFO, Veracode provides a cloud-based protection service which identifies critical application-layer threats before cyber-attackers can find and exploit them.It offers centralized policies and KPIs to systematically reduce risk and measure progress across disparate business units and development teams, including third-party suppliers, outsourcers and open source developers.