Codenotary Announces First Half of FY 2024 With Record Sales Growth
August 27 2024 - 2:00PM
Business Wire
Company expands rapidly into banking,
government, and defense verticals with best-in-class supply chain
security platform
Codenotary, leaders in software supply chain protection, today
announced that the company has closed the first half of 2024 with
record sales and strong expansion into the financial services and
government segments, as well as into the defense vertical with
best-in-class supply chain security platform, Trustcenter.
“The first half of 2024 saw Codenotary close several multi-year
agreements with world-class customers in financial and government
sectors. We grew equally in the U.S. and European markets. Overall,
we are very pleased with the number of new customers and the 140%
sales growth in the U.S. and Europe. After a profitable 2023, we
achieved further margin expansion in the first half of 2024. Some
of our customers now secure billions of artifacts in their DevOps
environments,” said Moshe Bar, CEO of Codenotary.
Codenotary secured so far $25 million in financing, and added
customers that include some of the largest banks in the U.S. and
Europe, along with government, pharmaceutical, industrial, and
defense clients. Helping the company grow in every region,
Codenotary has a network of 80 resellers in the U.S. and
Europe.
“Large-scale organizations have realized the need to secure
their software supply chain given the pervasive attacks of the last
few years targeting software components. The biggest threat to the
application security of organizations today comes from within. It’s
too easy to import malicious code through a quick library import in
a project. It takes mere seconds to infect the DevOps environment,”
said Dennis Zimmer, co-founder and CTO of Codenotary.
“The British Army has extremely high standards for excellence
and security in our computing environment. Codenotary has been
responsive to our needs, and their product fits our stringent
requirements,” said Captain D. Preuss, British Army.
In terms of product development, the company made three releases
of its flagship product, Trustcenter, including version 4.8 which
became the first such platform to add machine learning to automate
the process of recognizing security issues which are exploitable in
the customer’s environment. Codenotary’s Trustcenter is typically
used as part of an organization's compliance, auditing, and
forensics activity to maintain a secure software supply chain.
Significantly, it increases overall application security by
enforcing that only trusted and approved artifacts are built into
apps.
Codenotary is also the primary maintainer of immudb, the first
and only open-source enterprise-class immutable database with data
permanence at scale for demanding applications -- up to billions of
transactions per day. There have been more than 40 million
downloads of immudb to date, which serves as the foundation for
Codenotary’s supply chain security products. Thousands of
organizations worldwide use immudb to secure their data from
tampering rather than cumbersome and complex blockchain
technologies.
About Codenotary
With hundreds of customers that include tier 1 banks in the U.S.
and Europe, Codenotary brings easy-to-use trust and integrity into
the software lifecycle by providing end-to-end cryptographically
verifiable tracking and provenance for all artifacts, actions, and
dependencies. Codenotary can be set up in minutes and fully
integrated with modern CI/CD platforms. It is the only immutable
and client-verifiable solution available that is capable of
processing millions of transactions a second. With the Codenotary
tamper-proof bill of materials, users can instantly identify
untrusted components in their software builds. For more
information, go to https://www.codenotary.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240827176742/en/
Elena Sorg operations@codenotary.com