Company doubles customer base, increases new customer revenue by more than 150 percent
BURLINGTON, Mass. — Sep 12, 2007 — Klocwork, Inc., the proven leader in automated source code analysis solutions for improving software security and quality, today announced record company growth for the last 12 months. The Company achieved multiple year over year milestones by doubling its client roster and increasing license revenue from new customer contracts by more than 2.5 times.
Klocwork’s customer momentum spans multiple vertical markets, with more than 200 customers now using Klocwork’s source code analysis technology as part of their mission-critical software development process. The Company’s impressive client roster includes:
- Three of the top five U.S. internet and computer software companies
- Four of the top five North American telecommunications and network equipment manufacturers
- Five of the top seven global chip manufacturers
- Five of the largest U.S. aerospace and defense manufacturers
These accounts represent a sample of the significant deployments of Klocwork to identify, assess and remediate security vulnerabilities and software quality defects early in the development process.
Klocwork’s dramatic increase in license revenue from new customers represents growing market adoption of automated source code analysis technology that enhances the security and reliability of mission-critical software. While 60 percent of the company’s license revenue year-to-date is from new customers, Klocwork also secured substantial repeat business from existing customers as they extend their deployments domestically and internationally. This healthy mix of new and follow on business demonstrates customers’ confidence in Klocwork, acceptance of the technology and desire to accelerate the proven developer productivity and cost savings of their Klocwork deployments.
“Klocwork’s tremendous business growth and the increased industry acceptance for our products and services is exciting and rewarding,” said Mike Laginski, Klocwork’s chief executive officer. “We strive to provide our customers with the best tools to identify and address software issues as early in the development process as possible. While our momentum from new customers is certainly a remarkable achievement, we are especially proud of the fact that existing customers continue to expand their deployments with Klocwork, demonstrating the scalability and value of our solution.”
Further validation for Klocwork this year came in the form of industry accolades. Klocwork was named to the SD Times 100 for the third consecutive year and was the winner of InfoWorld‘s 2007 Technology of the Year Award in the Application Development category.
Klocwork provides highly scalable and accurate source code analysis tools to identify the root causes of software security and quality defects, track them throughout their software development process, ensure that they have been dealt with by the development team and prevent them from reoccurring. Solutions are available in two versions: Klocwork Enterprise Development Suite for C/C++ and Java and Klocwork Enterprise Development Suite for Java.
Klocwork helps developers create more secure and reliable software. Our tools analyze source code on-the-fly, simplify peer code reviews, and extend the life of complex software. Over 1000 customers, including the biggest brands in the mobile device, consumer electronics, medical technologies, telecom, military and aerospace sectors, have made Klocwork part of their software development process. Thousands of software developers, architects, and development managers rely on our tools everyday to improve their productivity while creating better software.