Coverity Recognized as Rising Star in Deloitte's Technology Fast 50 Program
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Leader in Improving Software Quality and Security Debuts on List of Fastest Growing Companies With 537 Percent Growth Rate
SAN FRANCISCO, Oct. 31 -- Coverity, Inc., the leader in improving software quality and security automatically, today announced it has been named a Rising Star in Deloitte & Touche USA LLP's Technology Fast 50 program for Silicon Valley. A special designation for fast-growth companies, the Rising Star award recognizes high-growth companies that have been in business a minimum of three years, but less than five. With a growth rate of 537 percent over this period, Coverity was ranked the thirteenth fastest growing company in the Silicon Valley. This designation is part of the Silicon Valley Technology Fast 50 program, which ranks the 50 fastest growing technology, media, telecommunications, and life sciences companies headquartered in Silicon Valley.
"Making Deloitte's Silicon Valley Technology Fast 50 Rising Star is a testament to a company's vision that has resulted in exceptional growth over three years," said Mark Jensen, partner and national director, Venture Capital Services, Deloitte & Touche LLP. "Coverity's leadership team has the right stuff for growth, and Deloitte salutes their accomplishments."
Founded in 2002, Coverity's groundbreaking research enabled the first effective use of static analysis to automatically detect software defects in large source code bases. By leveraging technology to automate this complex and time consuming task, Coverity saves developers significant time searching for hard-to-find flaws in their software and benefits organizations by accelerating the availability of new applications.
Over the past year, Coverity secured its 300th customer as leading organizations in the aerospace, mobile device, telecommunications, networking, security and other technology-reliant industries continued to select Coverity as their solution for ensuring code quality and security.
Coverity's flagship product, Coverity Prevent SQS (Software Quality System), is the market-leading solution for identifying and resolving the critical defects in C, C++ and Java source code. Coverity's unique combination of analysis engines based on path simulation and Boolean satisfiability delivers the most sophisticated analysis of any given software system, including dependencies, key third-party libraries, and projects spread across multiple development groups.
"Coverity is proud to be recognized for our significant and consistent growth by Deliotte's veteran leadership team," said Seth Hallem, CEO of Coverity. "We also thank our fast growing group of over 300 customers for their important role in helping us attain this recognition. We look forward to continued success by developing technology that helps our customers manage the complexity of producing software in today's highly competitive markets."
To qualify for the Technology Fast 50 Rising Star program, companies must have operating revenues of at least $50,000 in 2004 and $5 million in 2006. For more information on Deloitte's Technology Fast 500 or Technology Fast 50 programs, visit http://www.fast500.com/.
For more information about Coverity, please visit http://www.coverity.com/.
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 removes the barriers to writing and delivering complex software by automatically finding and helping to fix critical software defects and security vulnerabilities as the software is written. More than 300 leading companies choose Coverity because it scales to tens of millions of lines of code, has the lowest false positive rate and provides 100 percent path and 100 percent value coverage. Companies like Juniper Networks, Symantec, McAfee, Synopsys, Palm and Wind River rely on Coverity's tools to find and eliminate security and quality defects from their mission-critical code.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte", "Deloitte & Touche", "Deloitte Touche Tohmatsu" or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
Source: Coverity, Inc.
CONTACT: Jim Shissler, Director, Public Relations, +1-415-694-5342, jshissler@coverity.com, of Coverity, Inc.; or
Patricia Colby of Page One PR for Coverity, +1-415-875-7494, patricia@pageonepr.com
Web site: http://www.coverity.com/
