Coverity™ Achieves Record Growth in 2007 with 400th Customer
Static Analysis Leader Records 5th Consecutive Year of Cash Flow Positive Growth
SAN FRANCISCO - February 19, 2008 – Coverity™, Inc., the leader in automatically improving software quality and security in C/C++ and Java, today announced the company’s customer base grown to more than 400 customers. This milestone was achieved following exceptional revenue growth through the 2007 calendar year, the company’s 5th consecutive year of cash flow positive growth. During 2007, Coverity more than doubled its customer base as development organizations continue to adopt the company’s industry-leading static analysis solution.
“Coverity’s advanced technology has helped our development teams improve the overall integrity of the code they write,” said Dwight Diercks, vice president of software engineering at NVIDIA. “By helping us identify potential defects early in the lifecycle, Coverity Prevent™ has helped our developers eliminate defects and accelerate our overall development process.”
With more than 400 customers, Coverity’s customer base has grown more than 1,000 percent in the past 4 years. In addition to new customers, a growing number of the company’s existing large enterprise customers began standardizing on Coverity Prevent as their enterprise-wide static analysis solution in 2007.
In addition to Coverity’s customer growth, in 2007 the company introduced a number of new advanced technologies including:
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The first static analysis engine based on Boolean satisfiability (SAT), capable of analyzing 100 percent of the values in C/C++ code
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The first race condition defect detection capabilities in static analysis, capable of detecting one of the most difficult to identify concurrency errors that can occur in multi-threaded application development
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The availability of Coverity Prevent, the company’s flagship static analysis solution for Java
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The release of Structure101, a structural analysis and architectural control product developed specifically for Coverity through its technology partnership with Headway Software
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With a proven track record of financial success and technical innovation, Coverity’s goal is to do even more to help our growing base of over 400 customers develop software with the highest possible integrity,” said Seth Hallem, CEO of Coverity. “We take pride in the relationships we have established with our customers over the past 5 years, and we believe our success is a reflection of our ability to help developers ensure the security and quality of their applications.”
In 2007, Coverity also enjoyed wide-spread recognition from several notable industry associations. Coverity was named a Rising Star in Deloitte & Touche USA LLP’s Technology Fast 50 Program for Silicon Valley, with a growth rate of 537 percent over the past three years. The company was also selected as one of the AlwaysOn AO100 Top Private Companies.
During the past year, Coverity’s leadership and products were also recognized for excellence in the industry. Ben Chelf, Coverity’s CTO was named to Computerworld’s ‘40 under 40’ Top Technology Innovators, and Coverity also won the Product Excellence Award for Best Application Development Tool at the 2007 LinuxWorld Expo in San Francisco.
About Coverity
Coverity (www.coverity.com), the leader in improving software quality and security, is a privately held company headquartered in San Francisco. Coverity's groundbreaking technology removes the barriers to writing and delivering complex software by automatically finding and helping to fix critical software defects and security vulnerabilities as software is written. More than 350 leading companies choose Coverity because it scales to tens of millions of lines of code, has the lowest false positive rate while providing 100 percent path and value coverage. Companies like Juniper Networks, Symantec, McAfee, Synopsys, NASA, Palm and Wind River rely on Coverity's tools to find and eliminate critical defects from their mission-critical code.
Coverity is a registered trademark, and Coverity Extend and Coverity Prevent are trademarks of Coverity, Inc. All other company and product names are the property of their respective owners.
Media Contacts
Jim Shissler
Director, Public Relations
jshissler@coverity.com
+1 415 694 5342
Patricia Colby
Page One PR for Coverity
patricia@pageonepr.com
+1 415 875 7494
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