Ounce Labs Raises $7.5 Million

Ounce Labs Inc., a Waltham, Mass.-based provider of enterprise security source code analysis, has raised $7.5 million in fourth-round funding. Return backers include Greylock and Commonwealth Capital Ventures.



Ounce Labs, the industry leader in enterprise security source code analysis, today announced it has secured $7.5 million in funding led by venture capital firms Greylock Partners and Commonweath Capital Ventures. Ounce Labs will use the funds to optimize the company’s operations in order to accelerate market awareness of the widespread security problems that demand a focused software solution.


“Application security is an enormous problem being faced by companies of all sizes. Certain vulnerabilities can only be identified and properly evaluated with source code scanning,” said Gary Jackson, CEO and president of Ounce Labs. “With this new financing, we will establish a viral community dedicated to removing many of the most attractive targets for the bad guys, and to do it in a way that every organization can understand and use. Our mission is to ensure that this year, every company will have access to these tools and will be able to afford, deploy, and capitalize on them.”


Ounce Labs’ enterprise source code analysis technology, in use by many Fortune 500 companies, and leading Ecommerce, and Financial Institutions, helps to drive the elimination of business-critical software vulnerabilities across a broad portfolio of applications.


“With industry analysts predicting significant growth for application security over the next few years, Ounce Labs is well positioned to take advantage of the maturing market,” said Tom Bogan, Partner, Greylock. “Ounce Labs has built great momentum in a very short period of time and its success, along with visionary management, and a strong intellectual property position gives us the confidence to stand behind their growth strategy.”


Ounce Labs’ funding comes amid several recent corporate and product milestones, including:


— The fastest growing security testing company, according to recent Gartner market data.


— Release of Ounce 6, an enterprise-wide, comprehensive approach to security source code analysis, with fast scans and actionable information across an organizations’ entire application portfolio and down to the line of vulnerable code.


— ITWorx, a professional IT services firm focusing on IT solutions development for Global 2000 companies, standardizing on the company’s automated source code analysis.


— Ounce 5 awarded top honors in the Features, Performance and Value categories by SC Magazine. It received 27 out of a possible 30 stars and 4 out of 5 stars for its overall rating in a recent independent review of Web application vulnerability analysis products.


“This is a very exciting time for the company as we focus on preparing for the next stage of growth,” said Jackson. “With rapid customer traction, there is immediate urgency for us to expand quickly to meet new demand and this funding will help to take the company to the next level.”


About Ounce Labs, Inc.


Ounce Labs’ industry-leading enterprise security source code analysis solutions enable organizations to quickly analyze a wide portfolio of applications, identifying and prioritizing business-critical vulnerabilities. Ounce’s patented code analysis delivers actionable results with minimal customization. Ounce’s open and flexible workflow integrates seamlessly into customers’ existing infrastructure, enabling both the security and development teams to collaborate for maximum value from the analysis findings. Only Ounce delivers the enterprise scalability and automation to help organizations such as EDS, IBM, Intel, Lockheed Martin, MFS, the U.S. Government Accountability Office, Unisys and VeriSign, strengthen application security and protect confidential information enterprise-wide. Ounce also helps organizations to verify regulatory and policy compliance, addressing PCI DSS, FISMA, HIPAA and others. For more information, please visit www.ouncelabs.com.