Checkmarx, a global leader in software security solutions for DevOps, today announced that it achieved 50% year-over-year revenue growth in fiscal year 2019, driven by net new customer acquisition, as well as increasing renewals and expansions within the company’s existing customer base. Organizations of all sizes and vertical industries, including eight of the 10 largest financial institutions and 42 of the Fortune 100 companies, trust Checkmarx’s innovative software security solutions to help them release secure software faster.
“Checkmarx is the clear leader in identifying and remediating software vulnerabilities as part of the development and DevOps processes, helping customers move their applications into production quickly and securely without interrupting developer workflows,” said Emmanuel Benzaquen, CEO, Checkmarx. “Our product set, which can fit any organizational use case – whether on-premises, in the cloud, or a hybrid environment – coupled with our dedication to delivering a customer-first experience, gives us a powerful advantage in the large and rapidly-growing software security market. On a personal note, I would like to thank our talented team for their commitment to excellence in servicing our customers and partners.”
2019 business highlights and drivers propelling Checkmarx growth include:
Revenue Growth Fueled by Market-Based Approach
Checkmarx’s 50% YoY growth was fueled by customer adoption of its comprehensive, integrated SAST, SCA, IAST, and developer training and awareness (Codebashing) solutions. Notably, this resulted in 18 seven-figure deals, a company record. Key highlights include:
- Garnered continued success, growth, and adoption in the U.S. Federal market, with customer wins within the U.S. Department of Defense such as the U.S. Air Force and the U.S. Navy;
- Focused channel expansion worldwide with more than 50% of sales delivered through partners; and
- Strengthened key alliance partnerships with AWS and Cloudbees. Checkmarx became the first AST software vendor to achieve Amazon Web Services (AWS) Security Competency status and be accepted into the AWS Public Sector Partner Program. Checkmarx also became a ‘Premier’ partner of Cloudbees’ Technical Alliance Partner Program (TAPP), reinforcing the company’s commitment to powerful integrations with DevOps ecosystem partners.
Product Innovation and Services Expansion
- Launched significant enhancements to its software composition analysis (SCA) solution, CxOSA, which detects vulnerabilities in open source code, deepening the company’s stake in the SCA market;
- Delivered advancements in its Software Security Platform, helping organizations to simplify and streamline their managing policies and correlate vulnerabilities across the SDLC for higher results confidence;
- Extended capabilities to support multiple deployment offerings for application security testing (AST) on-premises, in the cloud, or in hybrid settings; and
- Expanded professional services offerings to support customer onboarding and make their AST initiatives easier and more effective.
- Increased company headcount to more than 650 employees across 20 countries.
Opened new offices in Singapore and Shanghai, following the 2018 France office opening, to support continued growth in EMEA and APAC.
- For more information about available job opportunities, visit here.
Security Research & Industry Leadership
As part of its mission to drive the necessary changes in software security practices, the Checkmarx Security Research Team disclosed multiple critical vulnerabilities in 2019 involving applications, IoT devices, and more:
- Android Camera Spying Vulnerability
- LeapFrog LeapPad Ultimate Security Vulnerabilities
- Lenovo Watch X PII Vulnerability
Additionally, Checkmarx experts continued to play a leadership role in the broader application security community via contributions to the OWASP API Security Top 10 list and by establishing the first-ever AppSec Village at DEF CON 27 in August 2019.
Awards & Industry Recognition
Checkmarx was recognized multiple times throughout the year for its leadership team, Software Security Platform, company culture, and market potential. First and foremost, Checkmarx was named a Leader in Gartner’s 2019 Magic Quadrant for Application Security Testing1, as well as a 2019 Gartner Peer Insights Customers’ Choice for AST.
Additionally, Checkmarx was selected as a Black Unicorn by Cyber Defense Magazine, signifying its growth trajectory and potential to reach a $1 billion or greater market value, while also being placed on Dun & Bradstreet’s “Dun’s 100” list as a best hi-tech company to work for in Israel.
In 2020, Checkmarx will continue to broaden the capabilities of its market-leading product portfolio and build on its expanded delivery models. Contact us to request a demo and receive more information.
Checkmarx is the global leader in software security solutions for modern enterprise software development. Checkmarx delivers the industry’s most comprehensive Software Security Platform that unifies with DevOps and provides static and interactive application security testing, software composition analysis, and developer AppSec awareness and training programs to reduce and remediate risk from software vulnerabilities. Checkmarx is trusted by more than 42 of the Fortune 100 companies and half of the Fortune 50, including leading organizations such as SAP, Samsung, and Salesforce.com. Learn more at www.checkmarx.com.
1 – Gartner, Magic Quadrant for Application Security Testing, Ayal Tirosh, Mark Horvath, Dionisio Zumerle, 18 April 2019.