Codenotary Announces First Half of FY 2024 With Record Sales Growth

Company expands rapidly into banking, government, and defense verticals with best-in-class supply chain security platform

HOUSTON--(BUSINESS WIRE)--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.