Monday, January 22, 2007

Security startup Veracode debuts with $19.5M in VC

Burlington-based Veracode Inc. reports launching as a security company and raising $19.5 million in venture capital.

Veracode is marketing automated, on-demand security analysis delivered through a software-as-a-service platform, with no hardware, software or other resources required for installation, maintenance or upgrades, the company reported.

Key investors include Boston-based .406 Ventures Management LLC, and Waltham's Atlas Venture and Polaris Venture Partners. Corporate investors include Symantec Corp. and Macrovision Corp., both based in California, Veracode officials said.

The company's president and CEO, Matthew Moynahan, is the former vice president of Symantec's consumer products and solutions division.