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Onapsis Raises $55 Million in Series D Funding Round

Onapsis, a Boston-based company that provides cybersecurity and compliance solutions for mission-critical applications, announced on Tuesday that it has raised $55 million in a Series D funding round.

Onapsis, a Boston-based company that provides cybersecurity and compliance solutions for mission-critical applications, announced on Tuesday that it has raised $55 million in a Series D funding round.

The latest investment, which brings the total raised by the company to $117 million, was led by Caisse de dépôt et placement du Québec (CDPQ) and NightDragon, with participation from existing investors .406 Ventures, LLR Partners and Arsenal Venture Partners.

The company on Tuesday also announced support for Salesforce and SuccessFactors, and that it has launched an early access program for the Onapsis Platform for Salesforce and the Onapsis Platform for SuccessFactors.

Onapsis says it will use the newly raised money to “significantly scale the company through rapid expansion into the mission-critical SaaS applications market, starting with protection and compliance for Salesforce and SuccessFactors applications.”

The company provides a platform that enables organizations to identify, prioritize and address vulnerabilities, misconfigurations and malicious activity that can pose a threat to sensitive systems and data.

In the coming months, it plans on launching an early access program support for Oracle HCM Cloud, Oracle ERP Cloud, Workday and other SaaS applications.

Onapsis claims its annual recurring revenue has increased by over 145%, and says it has a 98% customer retention rate. The company says 300 major brands are using its solutions, including 20% of the Fortune 100 companies.

Onapsis is also known for its research team, which has discovered more than 800 vulnerabilities, mainly in products from SAP and Oracle.

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Related: ERP Security Firm Onapsis Acquires Competitor Virtual Forge

Related: Critical Vulnerabilities in SAP Solution Manager Expose Companies to Attacks

Related: Enterprise App Security Firm Onapsis Raises $31 Million

Related: Open Source Tool Checks SAP Systems for RECON Attack IOCs

Written By

Eduard Kovacs (@EduardKovacs) is a managing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

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