Coverity Announces Record Growth and Exceeds 1,000 Customers

Achieved 94 percent Q4 bookings growth over the year ago quarter

Closed 2010 fiscal year with 32 percent year over year revenue growth

Oct 27, 2010, 09:00 ET from Coverity, Inc.

SAN FRANCISCO, Oct. 27 /PRNewswire/ -- Coverity, Inc., the software integrity leader, announced a year of record growth, achieving 94 percent Q4 bookings growth over the same quarter last year and closing the 2010 fiscal year with 32 percent year over year revenue growth. Coverity also announced that it has exceeded 1,000 customers as a result of rapid adoption from a wide range of industries including consumer electronics, mobile, telecommunications, aerospace and defense, software vendors, financial services, universities and academic research organizations.

"Coverity is extremely excited about our 2010 growth and the rapid adoption of our software integrity products from some of the world's leading companies," said Seth Hallem, CEO and founder of Coverity.  "I would like to personally thank all of our customers and the devoted users of our products who we partner with every day to improve the state of software integrity in their businesses."

2010 highlights include:

  • Achieved 94 percent Q4 bookings growth over the same quarter last year
  • Closed 2010 fiscal year with 32 percent year over year revenue growth
  • Exceeded 1,000 customers worldwide from a wide range of industries including consumer electronics, mobile, telecommunications, aerospace and defense, software vendors, financial services, universities and academic organizations
  • Expanded field operations and realized record bookings in the United States, China, the Nordics and Israel
  • Appointed software veteran Andreas Kuehlmann as vice president of research and development and Ezi Boteach as vice president of products
  • Released the Coverity 5 software integrity platform, enabling companies to understand business impact from software defects
  • Announced partnership with Armorize to develop actionable security testing
  • Recognized by analyst firm, voke, as a Transformational Company in the Market Mover Array™ Report for Testing Platforms
  • Received extensive press coverage with major media such as CNBC, BusinessWeek, USA Today, and The New York Times

Coverity is the leader in software integrity.  Software integrity is an indicator of the risk created by software defects altering the expected behavior, safety, performance or security of products and services.  Coverity provides developers with the capability to test, find and fix defects before release.  Coverity provides executives with visibility into the integrity of the software they are shipping in their products and services, including software provided from third party providers and open source.

About Coverity

Coverity (www.coverity.com), the software integrity leader, is the trusted standard for companies that have a zero-tolerance policy for software failures.  Coverity's award-winning portfolio of software integrity products discovers software defects in development before they can impact the business. More than 1,000 customers rely on Coverity to help them deliver high-integrity software.  Coverity is a privately held company headquartered in San Francisco.  Follow us on Twitter or check out our blog.

SOURCE Coverity, Inc.



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