One Platform to Protect Them All: New Funding Accelerates Expansion to Protect Mission-Critical SaaS Applications
Today, we are announcing a new $55M Series D round of funding, which will immediately fuel the growth of Onapsis and the expansion of our solutions that we offer with support for SaaS mission-critical applications, such as Salesforce, Oracle ERP Cloud, Oracle HCM Cloud, SuccessFactors, Workday and others. While we are issuing a press release to announce all of the details, what the press release does not capture is my excitement about what this means for Onapsis, the passion of our team for what we are doing and where we are going next.
Just a few weeks ago, we announced a strategic partnership with SAP when we joined their exclusive Endorsed Apps program. This partnership with SAP validates and accelerates everything we have worked so hard to accomplish, making Onapsis the standard for protecting mission-critical applications for the world’s largest companies in cloud, hybrid and on-premises environments. Today’s announcement further strengthens our market leadership and enables us to expand our solution offering and market presence into the mission-critical SaaS application space.
I would like to thank our new lead investors, Caisse de dépôt et placement du Québec (CDPQ) and NightDragon, as well as our existing investors, .406 Ventures, LLR Partners and Arsenal Venture Partners, for joining the Ona Tribe . This commitment to Onapsis is a testament to our momentum and performance, as well our vision for protecting the mission-critical applications that power the global economy. Highlights of our 2020 momentum include:
- Onapsis is now trusted by more than 300 of the largest global enterprises, including more than 20 percent of the Fortune 100, to protect their cloud, hybrid and on-premises mission-critical applications.
- Over 145% growth in net new annual recurring revenue (ARR); recognized three consecutive years by the Deloitte Technology Fast 500 publication as one of North America’s fastest-growing technology companies
- Outstanding customer satisfaction with 98% retention rate and one of the industry’s highest NPS scores
- Recently announced strategic partnership with SAP, by which The Onapsis Platform is the SAP-endorsed application for cybersecurity and compliance
- World-class cyber threat research lab–over 800 zero-day vulnerabilities discovered; multiple critical global CERT alerts based on Onapsis’ novel research
- Established partnerships with leading system integrators and consulting firms including Accenture, Deloitte, IBM, PwC, Verizon, Optiv and others
- Global operations in the United States, Argentina and Germany with more than 380 employees, recognized as a Top 3 Great Place to Work
- New support for mission-critical SaaS applications to protect the intelligent enterprise
CDPQ and NightDragon both expressed their excitement about partnering with Onapsis to continue building upon the success we’ve achieved to date.
“We look forward to supporting growth initiatives put forward by the Onapsis management team and contributing to improving global cybersecurity,” said Alexandre Synnett, Executive Vice President and Chief technology Officer at CDPQ.
Dave DeWalt, who founded NightDragon and was named Vice Chairman of the Onapsis Board of Directors earlier this year, stated “Legacy security solutions don’t meet the requirements of today’s business applications – especially in the SaaS world. The expansion into SaaS applications opens a huge market opportunity for Onapsis and fills a much-needed gap for enterprises in the cybersecurity and compliance space.”
So, why is protecting SaaS mission-critical applications important?
Organizations rely on Onapsis to keep critical business processes and data protected, including supply chain management, manufacturing, financials, digital commerce, human resources, sales and customer service, business intelligence and more. With COVID-19 impacting and changing how every organization conducts business and offers services, digital transformation projects are being accelerated to ensure the virtual doors of business are accessible while the physical doors may not be.
As you modernize and transform your mission-critical applications, it is highly likely you will have a hybrid environment that includes systems and applications hosted on-premises and in cloud services such as IaaS (AWS, Microsoft Azure, Google Cloud), PaaS (SAP HANA Enterprise Cloud, Force.com, Oracle Cloud PaaS) and SaaS (Salesforce, SuccessFactors, Oracle ERP Cloud, Oracle HCM Cloud, Workday and others). All of these applications are interconnected to create more intelligent enterprises, but that connectivity can also create more risk. The challenge is that compliance and security of all applications can be compromised by vulnerabilities and misconfigurations in any interconnected application. You need to reduce risk and continually enforce security and compliance baselines from the core to the cloud and this is why we are expanding the scope of The Onapsis Platform to include SaaS applications, starting with Salesforce and SuccessFactors, and adding Workday, Oracle ERP Cloud and Oracle HCM Cloud soon.
This expansion to SaaS mission-critical applications is extremely exciting for us and our customers who are looking to Onapsis to keep their business process and data protected from cyber threats, compliance issues and unplanned downtime. To get an idea of your security and compliance risk posture from the core to the cloud, I invite you to get a free assessment of your mission-critical application environment today.
In closing, I want to thank our loyal customers, partners and, most importantly, our Onas for the integrity, resiliency and ownership with which you are navigating these challenging times and for the trust you place in Onapsis every day.