Coverity™ Reaches New Growth Milestone With 500th Customer

Company Poised For Further Growth with Expanded Product Portfolio
Customer Base Surges 30 Percent Year to Date in 2008

San Francisco – October 14, 2008 – Coverity, Inc., the leader in improving software quality and security automatically in C/C++/C# and Java, today announced the company’s customer base has grown to more than 500 customers. This milestone was achieved after record revenue growth throughout 2008, during which time Coverity accepted its first round of external funding following six consecutive years of cash flow positive growth. In 2008, Coverity has also introduced a new dynamic analysis product, a new software readiness management product and acquired development tool vendor Codefast to accelerate the expansion of the company’s suite of developer oriented products.

“Coverity Prevent has been a key part of our code quality initiative for over two years. Coverity's sophisticated defect detection methodology allowed us to enjoy a ‘signal-to-noise’ ratio that is 5 times superior to other static analysis tools we used,” said Collin Park, senior engineer at NetApp. “Coverity continues to be a valuable resource in helping us develop software with the highest possible standards of quality and security so we can help our customers’ businesses succeed.”

With over 500 customers, Coverity’s customer base has already grown more than 30 percent in 2008. In addition to Coverity’s growth, in 2008 the company has made the following accomplishments:

• New Software Readiness Product – Coverity Software Readiness Manager™ allows QA, development managers and executives to objectively assess the release readiness of their critical code by combining essential data from multiple sources including Prevent, Coverity’s industry-leading static analysis product. Software Readiness Manager helps development teams deliver high-integrity code that successfully meets quality standards to align product development with business goals.
• New Dynamic Analysis Product – Coverity Thread Analyzer™ for Java observes code as it is executed and automatically and predictably identifies race conditions and deadlocks. The product is unique in the field of dynamic analysis because its sophisticated technology detects not only problems that will occur in limited testing environments, but also problems that have the potential to occur over extended operations in field environments.
• Codefast Acquisitioni – Coverity acquired build management vendor Codefast in 2008. The technology acquired from Codefast will be enhanced to take advantage of Coverity’s patented Software DNA Map™ analysis system, further expanding the company’s platform of products that enable software development teams to ensure the integrity of their code.
• Scan Report on Open Source Software 2008 – The Scan site (www.scan.coverity.com) is an outgrowth of Coverity’s relationship with the U.S. Department of Homeland Security to help improve the quality and security of open source software. This year, Coverity released a report on the Scan project based on 2 years of recurring analysis of over 250 popular open source code bases with Coverity Prevent™. The report detailed the continuing improvement of open source software, representing a collection of code analysis data unlike anything else in the world, spanning 14,238 individual project analysis runs for a total of nearly 10 billion lines of code over a 2 year period.

"With a proven track record of financial success and technical innovation, Coverity is poised to do even more to help our customers develop software with the highest possible integrity," said Seth Hallem, CEO of Coverity. "The longstanding relationships we have with our customers remain a critical component of Coverity’s foundation for further growth, because our ability to help our customers succeed is always a predictor of our own ability to succeed."

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 enables developers to control complexity in the development process by automatically finding and helping to repair critical software defects and security vulnerabilities throughout the application lifecycle. More than 500 leading companies including ARM, Phillips, RIM, Rockwell Collins, Samsung and UBS rely on Coverity to help them ensure the delivery of superior software.

Coverity is a registered trademark, and Coverity Extend, Coverity Prevent, Coverity Software Readiness Manager and Coverity Thread Analyzer 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

Steve Eisenstadt
Page One Public Relations
steve@pageonepr.com
+1 919 781-8096