Burlington, Mass.-based Veracode announced Thursday a $40 million funding round led by Wellington Management Company and other investors. The cyber-security company disclosed in a statement it "will use the new funding to accelerate its global expansion by boosting investments in sales, marketing and R&D."
Veracode reportedly grew by 50 percent last year. As part of its anticipated international expansion, the company is looking at the possibility of acquiring "complementary technologies," as well as a potential IPO.
"This investment accelerates our ability to help the world's leading organizations systematically reduce cyber risk enterprise-wide," Veracode CEO Bob Brennan said in a statement. "Our goal is to speed the pace of business innovation with a more scalable, next-generation approach that industrializes application security controls across our customers' web, mobile and third-party applications."
Veracode's cloud-based security platform targets application-level threats, helping companies "speed their innovations to market." In 2012, the company secured $30 million in new funding from Meritech Capital Partners with plans of doubling their headcount by the end of that year.
"Our momentum is significant," said Brennan in 2012.
Veracode has raised $114.3 million since its founding in 2006.
For a further look at Veracode's technology, check out this video.
Screenshot via Veracode
