Checkmarx Receives $84 Million Investment From Insight Venture Partners to Further Accelerate Growth
TEL AVIV, Israel, Jun 25, 2015 (BUSINESS WIRE) -- Checkmarx, a global leader in software application security, today announced a $84M investment from New York-based venture capital and private equity firm, Insight Venture Partners. The new round of capital will be primarily used to further accelerate growth through product innovation and global expansion.
Founded in 2006 by Israeli cyber security expert Maty Siman, Checkmarx provides comprehensive solutions for application security testing and application layer attack prevention. Its flagship product is its automated static code analysis – scanning for security deficiencies in source code early in the software development lifecycle where it is most cost effective to apply fixes. With offices in both Israel and the US, Checkmarx has grown employee headcount to over 150 in the last 12 months, and is experiencing revenue growth greater than 100% in 2015. The company has an industry-leading customer retention rate and currently serves over 700 customers worldwide including Salesforce.com, SAP and the US Army.
“Checkmarx was founded with the goal of becoming the world leader in the application security market to provide businesses a better way to protect their data,” said Emmanuel Benzaquen, CEO of Checkmarx. “Our partnership with Insight Venture Partners will allow us to continue our pursuit of that goal as we expand our global sales operations and widen the scope of our application security platform.”
“Security has become one of the greatest concerns for companies, and Checkmarx has a proven track record of true leadership in application security.” said Richard Wells, managing director at Insight Venture Partners. “We are pleased to add Checkmarx to our portfolio of companies as they continue to provide businesses and organizations with innovative solutions to keep their data secure against ever-increasing security threats.”
Mooreland Partners LLC served as the Company’s exclusive financial advisor in the transaction and HFN served as the Company’s legal counsel. Willkie Farr & Gallagher LLP acted a legal adviser to Insight Venture Partners.
Checkmarx is a leading developer of software solutions used to identify, fix and block security vulnerabilities in web and mobile applications. It provides an easy and effective way for organizations to introduce security into their Software Development Lifecycle (SDLC) which systematically eliminates software risk before applications are released. The company's customers include 5 of the world's top 10 software vendors and many Fortune 500 and government organizations, including SAP, Samsung, Salesforce.com, Coca Cola and the US Army. For more information about Checkmarx, visit http://www.checkmarx.com or follow us on twitter: @checkmarx
About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $10 billion and invested in more than 200 companies worldwide. Our mission is to find, fund and work successfully with visionary executives providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit https://www.insightpartners.com or follow us on twitter: @insightpartners.com.