Tag: Veracode

  • Veracode Report Shines Spotlight on Massive Application Security Debt

    Veracode Report Shines Spotlight on Massive Application Security Debt

    An analysis of more than a million applications published today by Veracode, a provider of a software supply chain security platform, found 42% of applications contained flaws that remained unfixed for longer than a year.

    Based on 1,553,022 dynamic analysis scans and 11,429,365 static analysis scans, the report noted that those applications with that level of security debt were found in 71% of the organizations maintaining these applications. Nealy half of organizations (46%) have persistent, high-severity flaws that constitute ‘critical’ security debt. Approximately 63% of applications have flaws in first-party code, while 70% contain flaws in third-party code imported via third-party libraries.

    Remediation rates also vary by flaw type. Fixing third-party flaws takes 50% longer, with half the known flaws fixed after 11 months, compared to seven months for first-party flaws.

    Collectively, the scan run by Veracode produced 96 million raw static findings, four million raw dynamic findings and 12.2 million raw software composition analysis findings.

    Chris Eng, chief research officer for Veracode, said it’s clear too many organizations are kicking application security flaws down the road only to find they don’t have the time to address them properly. Meanwhile, cybercriminal syndicates and nation-states are becoming more adept at exploiting these flaws with each passing day, he added.

    In general, there is a lot more focus on software supply chain security in the wake of an executive order issued by the Biden administration that requires federal agencies to identify and remediate security flaws. However, the pace at which enterprise IT organizations are following the lead of the Federal government varies widely. Only a relatively small percentage of the vulnerabilities that exist in applications running in production environments are being exploited, so many enterprise IT teams have yet to prioritize the issue.

    However, as more cybercriminals acquire the skills required to discover and exploit those vulnerabilities, it’s only a matter of time before a major application security crisis ensues, noted Eng.

    Theoretically, at least, artificial intelligence (AI) should one day soon make it easier to discover and remediate vulnerabilities, but it’s just as likely cybercriminals will use the same capabilities to achieve their own nefarious ends. In fact, it’s largely a race against time before existing application flaws are exploited using AI-based tools and techniques. Application development teams that fix flaws the fastest reduce critical security debt by 75%, from 22% of applications to just over 5%, the Veracode report noted.

    Naturally, it’s less costly and simpler to fix security flaws before applications are deployed in a production environment, so the more organizations embrace DevSecOps best practices on the front end, the lower the overall security debt becomes, noted Eng.

    It’s not clear whether organizations might decide to replace or consolidate applications to reduce their security debt, but given the overall lack of cybersecurity expertise among application developers, the current level of security debt is likely to continue to rise. The challenge, of course, is that as the security debt rises, the number of developers available to address, unfortunately, remains comparatively constant.

  • 5 Principles for Securing DevOps

    5 Principles for Securing DevOps

    DevOps, a new model for software development, is transforming the way the world creates software. And despite its substantial organizational, cultural and technological requirements, this new way of organizing development and IT operations work is spreading rapidly.

    To read more about DevOps and how to secure it, download the PDF here:

    [su_button url=”https://devops.wpengine.com/wp-content/uploads/2020/08/Veracode_5-Principles-Securing-DevOps.pdf” target=”blank” background=”#ef2d3f”]Download Now[/su_button]

  • How-To Stop Copying and Pasting Flaws Using Open Source Code

    How-To Stop Copying and Pasting Flaws Using Open Source Code

    In this video, learn how to prevent critical flaws in your copying and pasting methods using open source code through this video presentation from Brittany O’Shea, Senior Product Marketing Manager at Veracode.

    To watch the full video, download it here:

    [su_button url=”https://devops.wpengine.com/wp-content/uploads/2020/08/Veracode_How-To-Video_Open-Source-Code.mp4″ target=”blank” background=”#ef2d3f”]Download Now[/su_button]

  • State of Software Security – Open Source Edition

    State of Software Security – Open Source Edition

    For our State of Software Security: Open Source Edition report, we analyzed the security of the open source libraries found in 85,000 applications. Below are highlights of that analysis.

    To see these highlights, download the infographic below:

    [su_button url=”https://devops.wpengine.com/wp-content/uploads/2020/08/Veracode_State-of-Software-Security_Open-Source-Infographic.pdf” target=”blank” background=”#ef2d3f”]Download Now[/su_button]

  • Understanding Modern Software Development: What Security Professionals Need to Know

    Understanding Modern Software Development: What Security Professionals Need to Know

    There has been a noticeable shift from a monolithic architecture to services- or microservices-oriented architecture. Microservices architecture entails breaking applications into smaller, interconnected services instead of one large, monolithic application. The reason for the shift is likely due to the fact that microservices architecture is faster to develop and easier to maintain. Unlike monolithic applications that are hard to make changes to, microservice applications can be adjusted on the fly.

    Organizations are also moving away from manual processes in favor of automation – this includes both automated deployment and application security (AppSec) tests. Automation has enabled organizations to move from quarterly software releases to weekly or monthly releases.

    To learn more, download the Infosheet here:

    [su_button url=”https://devops.wpengine.com/wp-content/uploads/2020/08/Veracode-AWS_Modern-Software-Development.pdf” target=”blank” background=”#ef2d3f”]Download Now[/su_button]

  • DevOps Chat: Is the Software We Create More Secure? Veracode’s 10th Report

    DevOps Chat: Is the Software We Create More Secure? Veracode’s 10th Report

    Application security is top of mind now more than ever. For more than a decade, Veracode examined increasing amounts of code as it passes through their source code vulnerability scanning service. During this period, automation is increasingly prevalent, making it easier to run scans more frequently and regularly. But has automation helped? Is the software we create more secure? We gain key insights about this in Veracode’s The State of Software Security Report X (10th edition).

    Chris Eng, chief research officer at Veracode, joined us on DevOps Chat. We talked about many insights uncovered in the latest report, such as 50% of applications are accruing security debt over time, the regularity of scanning correlates to vulnerability fix times and that scanning frequency directly impacts security debt.

    There is a wealth of information in the report, and you can get a jump on the key findings on this podcast episode with Chris.

    Transcript

    Mitch Ashley: Hi, everyone. This is Mitch Ashley with devopsy.kinsta.cloud, and you’re listening to another DevOps Chat podcast. Today, I’m joined by Chris Eng, who is chief research officer at Veracode. And we are talking about their latest report, the Veracode State of Software Security. This is volume 10. Chris, welcome to DevOps Chat.

    Chris Eng: Thanks, Mitch.

    Ashley: Great to have you on. Why don’t we start out by having you tell us a little bit about yourself, what you do at Veracode, and for those that don’t know Veracode, just a little bit about Veracode?

    Eng: So, as mentioned, I’m chief research officer here at Veracode. I’ve been here for 13 years now, and my teams are responsible, essentially, for building the knowledge that goes into our products.

    So, we have a number of different products that help our customers identify vulnerabilities in their software. And my team essentially identify—well, what are the patterns that we’re looking for? What are the common mistakes that developers are going to make? What are the important things that we should scan for in each language? And specify to our engineering teams how we do that.

    I also own product security for Veracode, so making sure that we deliver secure products to our customers. Our customers are basically anybody that builds, buys or deploys software. And so, we help them build programs around securing that software at scale, using a number of different technologies, including static analysis, dynamic analysis, software composition and so on.

    So, we work with anybody that deals with software, which is pretty much everybody.

    Ashley: [Laughter] Just about everybody these days with digital transformation, no doubt. Thank you very much for that background on yourself as well as Veracode.

    Well, let’s start out with, you’ve been doing this report for 10 years, and your longevity with the company, you’ve been able to oversee and be part of that over that decade process. What kind of things have you learned since you started out? You know, kinda the size of how many applications and things that you’re scanning to what’s happening today and any trends that you’ve noticed from that?

    Eng: Yeah, it’s been a great process to do this every year, primarily because we’re in this unique position where we actually can see what’s going out there in the industry and when we started doing this in volume one, we only had about 1,500 applications in the data set, and then fast forward to this year, we had 85,000 unique applications.

    Ashley: Wow.

    Eng: So, 50 times more than we had before. And I’m not aware of any other study that has quantitative information on software security that’s anywhere close to as big as this one.

    So, in addition to the size of the data set getting bigger, we looked at fix times, and we found that those have roughly stayed the same, which is sort of a little bit depressing—but that being said, there’s a lot more software now than there was before. So, there’s a lot more to scan, there’s a lot more to secure, and so, you only have so much bandwidth to do this stuff.

    So, we saw fix times stay roughly the same. We did see that, over that 10 year period, there are fewer apps that have no flaws. So, that’s more of a factor of our capabilities than anything else. We can detect more than we could before. But we did also see that there are fewer apps these days with no high severity flaws. So, customers are getting better at identifying and remediating high severity flaws.

    We looked at a number of different angles, including compliance trends and things like that, but for the most part, I think that the fix times is kinda the interesting part, and we dug a lot more into that and explored some of the factors that lead into fix times.

    Ashley: Well, if you just think about what’s changed over a decade, I mean, 10 years ago, we were thinking about SQL injection, cross site scripting—you know, those are the kind of app security flaws, at least a lot of what the focus was, things have changed drastically since then. [Laughter]

    Eng: Yeah, we are still seeing the vast majority of the same flaw categories that we saw 10 years ago. And I don’t think anybody who does app sec on a daily basis would be too surprised by that.

    Ashley: Mm-hmm.

    Eng: These things are really easy to fix technically, but when there’s so much of it and it spans across such a huge application inventory, it does take a lot of effort to close these. So, we still see SQL injection at roughly the same rate that we saw it 10 years ago. Other categories, like cross site scripting, have actually gotten more prevalent.

    And we’ve seen some go down. We’ve seen, like, buffer overflows and numeric errors reduce in prevalence. And part of that, I think, is due to the change in programming languages as well, right? There’s a lot of that that’s stuff that’s prevalent in native code like C++ and we’re seeing less, fewer applications being written in those languages today. So, I think that’s contributing more to the prevalence differences that we’re seeing.

    Ashley: I wonder, too, if service oriented architectures, microservices, things that promote reuse of code maybe help some of those things. Maybe it won’t—we’ll see. [Laughter]

    Eng: Yeah, it certainly code. I mean, any time there’s reuse, you know, you inherit the functionality, but you also inherit the risk, and that’s sort of the trends as we’ve seen people start using a lot more open source than before. Again, you get the functionality, but you also get the risk, and so you introduce new vulnerabilities to your applications that way.

    So, certainly, with code reuse, like you mentioned, you could get that effect as well.

    Ashley: Mm-hmm, potentially even infrastructure as code. There were some really great things that came out of the report. I’d love to have you talk about some of the applications incurring debt, how many folks are driving that down—you know, what kind of effects that had.

    Eng: Yeah, we took a look at security debt for the first time in this report. And, you know, most people have a concept of technical debt—just, you know, things that get old and crusty in your software over time, maybe architecturally, or things that you meant to go back and fix but you never did, and security flaws kinda have the same tendency to build up over time.

    If you think about it like financial debt, right, if you charge something on your credit card and then you only pay the minimum amount every month, you’re gonna be paying a lot, for a long time. And when you add that up, it’s gonna be a lot more than it would’ve just been to pay off your balance right when you accrued it, right?

    And so, security debt, when we look at security debt from that angle, we look at, are applications kind of accumulating new security debt over time, or are they driving it down? And when we look at the number of flaws that are kinda left unfixed in an application, we kinda view that as the security debt, right?

    And, you know, there’s only a certain amount of capacity, right? It’s very difficult for an application that, let’s say, has been accumulating security issues over many years to just say, like, “hey, we’re gonna pay that all down today,” right? You’d have to dedicated a lot of engineers to doing that, you’d have to really focus all your efforts to do that. And so, it’s not typically very practical to do that all at once, but it is important to kinda be measuring whether or not you’re fixing more than you find or finding more than you fix, because that’s kinda directional, right?

    And so, we found that nearly half of the applications are finding more than they fix. And so, essentially, they’re accruing that debt, so they’re never gonna climb out from underneath that unless they start to reverse course there, right? Put more effort into fixing issues so that they, over time, reduce that debt and get to a point where—okay, now there’s nothing kinda outstanding, and you can then make a rule that says, you know, “we’re not gonna allow this application to be promoted into production or whatever if we accrue new findings.”

    Ashley: Mm-hmm.

    Eng: But that’s rare, right? So, barely anybody is there yet. And so, we looked at how different DevOps tendencies or methodologies, practices affect security debt. So, I think those are some of the findings that I’d like to talk about a little bit.

    Ashley: Sure, let’s go to that, because I’m very curious about, as we shift left, right, we’re trying to get security in earlier—

    Eng: Exactly.

    Ashley: [Cross talk] earlier, all of those things, hopefully you fix it before it ever goes into a QA function or an automated testing.

    Eng: Right, there’s all those studies to kind of show that it costs a lot less, right, when you fix it earlier. And that makes sense—if you’re fixing a flaw as a developer is writing the code, if you can sit there and tell them what they did wrong before they even check that code into the repository, it’s gonna be a lot cheaper than if you find it in a penetration test, let’s say, after the code has been deployed and then you’ve gotta go figure out the root cause and then you’ve gotta find a developer that understands that code and get it in their backlog. So, that’s kind of an accepted understanding that it costs more, the later you do it.

    Ashley: That’s after you get done pointing fingers on whose code is it in or is it in the network or the servers or the—you know?

    Eng: Exactly, exactly—then it’s kinda tracing it down. And so, we wanted to really say, like, does DevOps make a difference in how quickly we can fix things and how much security debt we accrue?

    And so, sitting from where we are, remember customers submit their applications to us and DevOps is not just automation, it’s also culture and process and a lot of things that kind of feed into whether you’re doing DevOps or not. But from our vantage point, we can’t see culture, we can’t see process, we can’t see automation. We can’t see to what extent automation has been incorporated into an applications testing cycle, for example.

    We use scan frequency as a proxy for whether an organization is using DevOps. So, by that, I mean, how many scans do they run per year on an application? And so, you have a lot of applications that are scanning literally once per year, right—36% once a year.

    Ashley: Wow.

    Eng: And if you think about how quickly software is changing and how many features are getting added every week or every month, once a year is—that’s not very good. On the other end of the spectrum, you have about 0.3% of apps that are scanning basically every day or more. So, you know that that’s probably being done by automation. You don’t have a person sitting there submitting the application, hopefully.

    And so, if you look at—there’s some charts in the report that kind of show what that distribution is, but essentially, if you scan once per month compared to if you scan every day, your median time to remediation is significantly faster. So, 19 days median time to remediation for a flaw if you’re scanning daily, versus 68 days if you’re scanning monthly or less.

    And so, we then kind of broke it down into different, even more buckets, right? So, we did kind of what does one to three scans per year look like, four to six, seven to 12 and so on. And it’s kinda hard to describe this just via audio, [Laughter] but if you pull out the report, you’ll see all these kind of like iceberg charts. And so, you’ll see, like, pink and blue, and there’s—the pink represents the debt. It’s kind of below the line and that kind of shows the number of findings per app that are outstanding.

    And what you’ll see is that, for the apps that are scanned more frequently, less debt accumulates. Essentially, the teams were able to get after that debt faster, and while it doesn’t go away completely—again, because this is aggregating all of the apps we have—it accumulates less. And so, we see a direct correlation between that scan frequency and both the fixed time and the security debt accumulated.

    Ashley: It certainly makes sense automating that. That’s gonna show up in your numbers around the 19 days to fix, scanning once a day. Is there a way to tell if it’s happening? Do you see scanning happening more frequently than on a daily basis? Is that helpful, or are there other things that help—again, help this shift left?

    Eng: You know, I think once you get to a daily basis, you’re probably—I think there’s gonna be some diminishing returns after that. I mean, imagine you did a full scan every time somebody checked something in. You’d just be getting a lot of information—you wouldn’t be able to act on that quicker than, you know, I think the span of a day or a few hours. So, scanning every few minutes really wouldn’t buy you anything.

    Ashley: Mm-hmm.

    Eng: So, another thing that we looked at that we thought was interesting would be scan cadence. So, not so much how frequently were you scanning, but how regularly are you scanning? And so, you can imagine—and again, there’s this great diagram, it’s my favorite diagram in the report, actually, and it’s just a bunch of dots on a chart. But what it does is, it maps out that every dot represents a scan.

    And so, if an application is scanning on a very steady basis, you would see evenly spaced dots across the course of the year, whereas if you were scanning in kind of a bursty fashion—so, basically, a lot of activity followed by no activity, then you would see a clustering of dots followed by just a bunch of white space.

    And so, we actually calculated that cadence for every single app in the data set, and then we grouped them into buckets, again, so of the ones that were either scanning on a steady basis or a bursty basis or something in the middle which we called irregular—and irregular is basically just a bunch of mini-bursts, right?

    Ashley: Mm-hmm.

    Eng: So, what we wanted to answer was, how does that scan cadence affect security debt? Are you less likely to accumulate debt if you’re scanning steadily or in a bursty fashion, alright? Which one’s gonna be more effective at wiping that out?

    Because you could see it going either way, right? You could set it, you could just—people could get used to seeing results and then they get to the point where they ignore them, maybe. Whereas bursty, you’re like, “okay, well, I’m paying a lot of attention to this. We’re gonna focus all our efforts on this” and then, you know, drive it down.

    So, there was actually a question there. We didn’t know what we were going to see. But when we did break it out, we found out that when you do the bursty scanning, you have all that white space and you just put a flurry of activity over time, like, you’re just—that security debt that accumulates is just massive. You see this huge increase in the amount of pink, which represents the findings that are not addressed, whereas with the steady and even to some extent the irregular scanning, you see the security debt grow a little bit, but then start to decrease. And so, the curve is actually going in the right direction towards the end of the time frame that we’re able to chart out. And so, that was another good finding for us.

    So, what we can do is, we can actually take those conclusions and advise our customers and, really, anybody that’s building software that, if you want to reduce security debt, the data suggests that you should scan frequently and that you should also scan in a steady basis. You shouldn’t ever let up, right? It has to become—and that makes sense, right? Anything that we make a habit of tends to just become part of the way that we do things. And so, it was nice to have some data that actually reflects what we think would be true actually does turn out to be true.

    Ashley: It’s kinda like, brush your teeth daily, right, not the day before you go to the dentist. [Laughter]

    Eng: Yeah, exactly—that’s not gonna do you much good.

    Ashley: [Cross talk] [Laughter]. You know what also occurs to me is, this bursty style is, there’s really no predictability around how long a security flaw is gonna exist in your code, because you may find it and fix it now, but it may be—if it’s another three months or whatever before you scan again, who knows when it gets fixed? It could live out there for a long time.

    Eng: Right. We actually did find—it’s funny that you mention that—that the highest probability for a flaw to get fixed was in the first month or so. And so, the longer you wait, the less likely a given flaw is to get fixed.

    And so, essentially, developers are prioritizing kind of, like, last in, first out. They’re more likely to prioritize something to get fixed if it’s kind of fresh. And that’s not what we wanna see, right? We wanna see developers fix things that are more important. We wanna see them fix more severe items or items that are in applications that are more critical to the business or items that are more exploitable than others.

    But when we measured all of those and we looked for patterns that would suggest that they are prioritizing in that way that’s sensible to a security practitioner, we found that that recency, like, how recently was it found was really the highest correlation in terms of whether something was going to get fixed.

    Ashley: Mm-hmm.

    Eng: And so, we have to do a better job of prioritization, not just understanding what a security person would do, but getting a developer to adopt those same priorities.

    Ashley: You’re obviously not measuring the human psyche element of this, but I have to believe you’ve built up such a mountain of that debt, at some point, it gets too hard to grok, understand, fathom, and there’s probably even an abandonment rate that’s just like, “too big—let’s just deal with what’s on our plate right now, and here’s the scan results” and jump on it.

    Eng: It does, and that’s not—that’s not uncommon to see customers adopt that type of strategy. That, the idea that—alright, well, I’m starting this program now, on day zero. I’m responsible for appsec now. And, you know, anything that happened before I got here? Well, that’s not my problem. Let’s just focus on not introducing new flaws—which is fine. Like, not introducing new flaws is great, but that doesn’t help you with anything in the past.

    Ashley: Right.

    Eng: And ultimately, it’s all risk to the application, right? You can get attacked any number of these ways. But we have seen—we’ve seen big customers try to take that approach and, you know, it’s not advisable. You have to chip away at that debt. Even though you can’t do it all at once, maybe you work in security sprints into your life cycle, you find a way to pay it down over time, and eventually, you get to where you wanna be. But you cannot just ignore it and say, “No new flaws going forward.” It’s not gonna get you where you want as far as the debt.

    And it costs more to fix stuff later, too, right? The longer we wait—you know, imagine you’ve got a library to patch and that library is, you know, one year out of date or five years out of date. It’s gonna cost you a lot more in terms of effort to fix the one that’s five years out of date. Things will inevitably break, so the cost of fixing also increases over time.

    Ashley: There are hundreds of findings, if not more, [Laughter] in this report. Not to pick out just one, but it stood out to me that there was one stat in there of C++ carries three to five times more unresolved flaws than .NET over the same period of time. So, this is to the point of, languages make a big difference, and why is that so?

    Eng: Yeah, you know, we did break it down by language and just kinda took a look at how much security debt accrued into each one. And it’s not really to say that—okay, well, if you’re using C++, you should rewrite that in .NET or some other language. That’s not really practical for most people.

    Ashley: Sure, yeah.

    Eng: But what it does show is that certain languages are more likely to accumulate debt over time. And it’s important not to so much look at the raw number of flaws, because some languages just are inherently more secure against certain classes of flaws, right? It’s a lot harder to shoot yourself in the foot in certain languages than others.

    Ashley: Mm-hmm.

    Eng: But in looking at the shape of the curve, like, does security debt tend to increase for certain languages? That’s kind of—that’s something to look at and at least be aware of, if you have certain parts of your application inventory written in, you know, PHP, for example, you should be aware that those apps are probably gonna be more likely to accumulate debt than, say, the .NET ones.

    Ashley: Mm-hmm.

    Eng: And so, it’s something to take into account as you’re doing your planning.

    Ashley: Okay. Very good. Well, we could talk about this for maybe days, [Laughter] this is so much information, here.

    Eng: [Laughter]

    Ashley: So, we don’t leave everyone with a mountain of, “oh, gosh, there’s so much in here to learn and understand,” are there two or three takeaways if you’re a developer, lead developer, development manager, architect sitting out there listening to this, going “okay, so what do I need to know?” What are the couple of takeaways you would suggest?

    Eng: Yeah. You know, I’ll kinda reiterate some of the things that we talked about, but essentially, security automation, especially if we look at scan frequency, it is definitely lagging the adoption of DevOps in general, right? DevOps has kinda just taken off like a rocket ship and security automation, like I mentioned, only 5% of the apps were being scanned weekly or better. And so, there’s some catching up to do there.

    The good news is that, when you actually do that, and when you actually do that frequent and steady testing, you will probably get to a point where you can start chipping away at security debt and eventually, over time, drive that down so that you can take a strategy of, you know, no new flaws and keep yourself at a clean pace.

    And the last one, I think there’s conversation that needs to happen between security teams and developers in terms of prioritization. You know, I talked about how developers are not prioritizing in, really, a security appropriate manner, though recency is appearing to kind of outweigh every other factor. And so, there’s, I think, some improvement that most teams could make there where, even with the same amount of bandwidth to fix flaws, they could spend their time fixing things that are more important to be fixed as opposed to the ones that are just appearing most recently.

    So, I think those are some of the takeaways, and like you said, there’s a lot in the report. It’s a pretty interesting read, and I would encourage people to go grab a copy and read through it.

    Ashley: And very well done, if I do say so myself—very well put together, there, Chris. Where can folks get the report?

    Eng: It’s on our website, so Veracode.com, and it should be on the front page there, and—yep, there’s about a 50 page PDF behind it.

    Ashley: Okay, perfect. We’ll include a link in the description for this episode, too, so.

    Eng: Excellent.

    Ashley: Well, thank you so much. I appreciate you being on, Chris.

    Eng: Yeah, my pleasure.

    Ashley: It’s been great to have you. Again, thanking my guest today, Chris Eng, who is chief research officer at Veracode, and of course, thanking you, our listeners, for joining us today. We know your time is valuable and it’s a great topic—security is important and having this information, I think, is very valuable to all of us.

    This is Mitch Ashley, with devopsy.kinsta.cloud, and you’ve listened to another DevOps Chat podcast. Be careful out there.

    — Mitchell Ashley

  • Thoma Bravo to Acquire Veracode Software from Broadcom Inc. (NASDAQ:AVGO)

    Partnership Will Create Leading Independent Cybersecurity Company Focused on Providing Application Security Testing Globally

    SAN FRANCISCO and BURLINGTON, Mass., Nov. 5, 2018 /PRNewswire/ — Thoma Bravo, a leading private equity investment firm, today announced that it has agreed to acquire Veracode, the leading provider in next-generation application security testing (AST), from Broadcom Inc. for $950 million in cash. Currently, a division of Broadcom Inc. Veracode’s SaaS platform and integrated solutions help security teams and software developers find and fix security-related defects at all points in the software development lifecycle.  The transaction is expected to close in the fourth quarter of 2018, subject to usual and customary closing conditions and regulatory approvals.

    This acquisition reinforces Veracode’s long history of market leadership and innovation, and the partnership with Thoma Bravo is expected to support Veracode’s future operational and product development plans.

    With broad language, framework, and testing technology coverage, the Veracode Application Security Platform offers a holistic, scalable way to manage security risk across an entire application portfolio. Leveraging a wide range of security testing and threat mitigation techniques, combined with best practices derived from the most innovative application security programs in enterprises globally, customers are given the keys to transforming how they build and buy software by deeply integrating security into their software development lifecycles and enabling DevSecOps processes. Veracode’s Application Security Platform has received consistent industry recognition.

    “Software security is one of the most consequential issues facing companies as they look to compete in the digital economy. We are proud that our SaaS security platform combines multiple application security testing solutions, helping our customers around the world secure the software powering their companies and enabling them to focus on their core business objectives,” said Sam King, current Senior Vice President and General Manager of Veracode, who will become the CEO of Veracode following the close of the transaction. “Partnering with Thoma Bravo, a proven security software investor, is expected to extend our market reach and further fuel our innovation so that we can offer the broadest software security platform and empower us to accelerate growth — all to allow us to transform the way companies achieve their software security goals.”

    “As long-term investors in cybersecurity software, we are impressed with the speed and quality of innovation at Veracode,” said Seth Boro, a managing partner at Thoma Bravo.  “Sam King and her team are seasoned, proven operators addressing a critical security problem in application development and delivering best in class products to a rapidly growing customer base for over 10 years. We are excited to be partnering with the Veracode leadership team to build upon this strong foundation and continue to drive innovation for customers.”

    Securing this software is a critical part of growing the digital economy. Veracode’s pure SaaS platform is positioned to address this market opportunity. Veracode serves more than 2,000 customers across a wide range of industries, including nearly one-third of the Fortune 100, and more than 20 of Forbes’ 100 Most Valuable Brands.

    “In today’s digital economy practically every company is turning into a software company through their own digital transformation.  As these companies continue to build complex applications, many of which contain sensitive data, the applications themselves increasingly become the target of more sophisticated and omnipresent cyber-attacks.  As such, applications need to be built with security in mind day one, and we see a significant, growing market opportunity for Veracode’s product offerings,” said Chip Virnig, a partner at Thoma Bravo.

    Thoma Bravo has extensive experience investing in the cybersecurity software sector, and has completed more than 30 total acquisitions of enterprise security companies to date, including SailPoint (NASDAQ: SAIL), Barracuda Networks, LogRhythm, Bomgar, BlueCoat Systems, SonicWall and Entrust. The firm also has years of experience effectively executing software “carve-outs” and driving growth and productivity in newly created platform companies, including Digital Insight, McAfee, Kofax and Dynatrace.

    Kirkland & Ellis is serving as Thoma Bravo’s legal advisor.

    About Thoma Bravo, LLC

    Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $30 billion in capital commitments, Thoma Bravo partners with a company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. Representative past and present portfolio companies include industry leaders such as ABC Financial, Blue Coat Systems, Deltek, Digital Insight, Frontline Education, Global Healthcare Exchange, Hyland Software, Imprivata, iPipeline, PowerPlan, Qlik, Riverbed, SailPoint, SolarWinds, SonicWall, Sparta Systems and TravelClick. The firm has offices in San Francisco and Chicago. For more information, visit thomabravo.com.

  • CA World 2017: DevOps As Far As the Eye Can See

    CA World 2017: DevOps As Far As the Eye Can See

    The show floor for CA World 2017 had one inescapable, very obvious feature: There was DevOps as far as the eye can see. No kidding. It was a stunning reminder that this multibillion-dollar-revenue company has gone all-in on DevOps and related technologies. While we know CA has spent almost a billion and a half dollars acquiring DevOps-related companies in the last year, the effect on this year’s CA world was dramatic.

    CA World 2017

    What Was All That DevOps?

    CA World is organized so that most of the sessions except the keynotes are all conducted right on the expo floor. The floor is broken into distinct areas. Each area has its own theater, where sessions on the subject of that area are conducted. It is actually a great way to organize a conference like this and saves you from going to room to room, floor to floor.

    DevOps everywhereCA World 2017’s main floor segments were:

    • Automation – Basically CA Automic and all of its related partners, integrations and offerings. Primarily a DevOps area.
    • DevOps: APIs and microservices – This has been a staple of CA World now for several years. APIs again are related to DevOps, automation and microservices.
    • Mainframe -This area focused on enabling customers to extend DevOps practices to legacy applications, which most critically included a modern mainframe experience for enterprise developers
    • DevSecOps – There was a whole area dedicated to DevSecOps. Primarily the Veracode team—they had their own theater and lots of space and attention in the middle of the floor. The DevSecOps section did bleed into a smaller security section with the legacy CA security tools.
    • Agile Management – All things agile, based primarily on the Rally business CA bought a few years ago.
    • DevOps Agile Operations – APM and things of that nature.
    • DevOps CD – This area also included continuous testing and the new CD Director.
    • Advanced analytics
    • MSP Zone
    • CA Agility Zone
    • CA Acceleration Zone

    As you can see, a lot of DevOps right there.

    All Your DevOps Are Belong To Us

    But more than the real estate of the show floor, even the messaging coming from CA was “all DevOps, all the time.” The keynotes from the executive team were heavy on DevOps and related topics. The sessions at each theater featured household-name customers mixed with partners and CA people discussing DevOps-related topics.

    One presentation I found interesting was from the GM of the DevOps continuous delivery business, Jeff Schaeffer. It was a demo of a new product CA rolled called DevOps Continuous Delivery Director, a SaaS product that is a UI wrapped around a lot of the CD-related solutions from CA and leading partners. All kinds of testing, including testing from Sauce Labs and security testing from Veracode was possible from within the interface.

    I moderated a good panel on Continuous Testing: Shifting Left, which was well-attended. I was joined by customer reps from Cigna, a large financial institution, Groupon and others. This was also in the DevOps CD area.

    The mainframe theater stage featured a DevOps panel session to showcase a cross-BU perspective. Panelists included Aline Gerew from Automation, Steve Feloney from Continuous Delivery, Scott Morrison from APIs and Microservices, and Jean Louis Vignaud from Mainframe. The video recording is not yet available, but I was able to catch one snippet in a promotional tweet – APIs enabling IAM on Mainframe

    What’s Still Needed?

    As impressive as the DevOps show by CA was, what is missing is a tighter integration between the DevOps solutions. While some rudimentary integration is in the works, really making a 1 + 1 = 3 equation will provide the enhanced value to customers that such a broad set of DevOps solutions promises. I spoke to executives from just about every DevOps-related business unit and to a person they mentioned that this was in the works. But what was pleasantly surprising was the mandate not to force tighter integration that would stunt the innovation that each of the DevOps companies brought with them when they were acquired by CA.

    Of course, we will see if this remains the case. However, I did speak with employees at each of the units and they were all happy with how CA has handled the acquisitions to this point.

    Conclusion

    It is hard to argue when a software company the size of CA Technologies makes such a bold statement regarding DevOps. The company is clearly betting its future on DevOps being the backbone of the modern software factory.

    — Alan Shimel