Onapsis, a provider of security solutions to protect SAP and Oracle platforms, announced that it has raised $9.58 million in funding led by .406 Ventures with Endeavor Catalyst and existing investors also participating.
Headquartered in Cambridge, Massachusetts, Onapsis helps protect business-critical applications such as Enterprise Resource Planning (ERP), Supply Chain Management (SCM) and Business Intelligence (BI).
More than 100 global brands and nationally-recognized government organizations that run mission-critical software, such as SAP and Oracle platforms, trust Onapsis’ expertise and security solutions to understand and mitigate the unique, complex security risks affecting them.
According to the company, the new funding will allow Onapsis to enhance its product offerings, expand sales operations, and support the company’s product research and engineering teams.
“Until Onapsis, we had yet to find a solution that solved an unmet security need for Fortune 1000 companies’– an automated scalable approach to discovering and mitigating vulnerabilities that exist within all complex business critical environments,” said Maria Cirino, Partner at .406 Ventures, who will be joining the Onapsis Board. “It’s a significant problem for which Onapsis has developed a unique and powerful solution, which is being used successfully today in some of the world’s largest SAP environments.”