Static Analysis Leader Records 5th Consecutive Year of Cash Flow Positive
Growth
SAN FRANCISCO, Feb. 19 /PRNewswire/ -- Coverity(TM), Inc., the leader
in automatically improving software quality and security in C/C++ and Java,
today announced the company's customer base has 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(TM) 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:
-- The first static analysis engine based on Boolean satisfiability (SAT),
capable of analyzing 100 percent of the values in C/C++ or Java code
-- 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
-- The availability of Coverity Prevent, the company's flagship static
analysis solution for Java
-- The release of Structure101, a structural analysis and architectural
control product developed specifically for Coverity through its
technology partnership with Headway Software
"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 widespread 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 (http://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
early in the application lifecycle. More than 400 leading companies choose
Coverity because it scales to tens of millions of lines of code, provides
100 percent path and value coverage, and has the lowest false positive rate
in the industry. Companies including Juniper Networks, Symantec, McAfee,
Synopsys, NASA, Palm and Wind River rely on Coverity's tools to identify
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
Steve Eisenstadt
Page One Public Relations
steve@pageonepr.com
+1 (919) 781-8096
SOURCE Coverity
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Related links:
http://www.coverity.com
CONTACT:
Jim Shissler, Director, Public Relations of
Coverity, +1-415-694-5342, jshissler@coverity.com; or Steve
Eisenstadt of Page One Public Relations, +1-919-781-8096,
steve@pageonepr.com, for Coverity
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