We are delighted to announce our significant growth in the first six months of 2019! Following the acquisition of Virtual Forge, the formation of strategic partnerships and setting key executive appointments, Onapsis has achieved triple-digit customer and employee growth while vastly expanding its global operations footprint.
“This has been an incredible first half of the year for Onapsis,” said Mariano Nunez, CEO of Onapsis. “Our decisions to acquire Virtual Forge, grow our executive team and accelerate strategic partnerships with industry leaders has had an immediate material impact on our business. These investments, coupled with the acceleration of cloud initiatives among enterprise organizations and the increasing volume of critical threats against ERP systems, have created an all-time high demand for solutions that automate the management and protection of business-critical applications. We are strongly positioned to sustain hypergrowth and help our customers transform their business applications with confidence.”
In the first half on 2019, Onapsis sustained hypergrowth of 80%+ in new annual recurring revenue compared to First Half 2018, fueled by triple-digit customer and employee growth. Onapsis also experienced strong retention rates of 95%+ across the global customer base, with significant expansion business through value-added software offerings. Following the acquisition of Virtual Forge, we were able to immediately add market-leading and patented custom code analysis, secure transport inspection and automated custom-code repair and remediation capabilities to the Onapsis Platform.
During the first half of 2019, we also announced the discovery and mitigation of 10KBLAZE, a critical SAP exploit which can lead to a full compromise of vulnerable SAP systems at over 50,000 companies worldwide. Given the criticality of this threat, the United States DHS issued a US-CERT alert and Onapsis released open-sourced components of its technology to protect all global SAP customers, including those not currently using the Onapsis Platform.
Onapsis also worked to build, maintain, and formalize strategic partnerships with industry leaders, including Verizon Enterprise Solutions and IBM Global Business Services to help SAP and Oracle EBS customers securely modernize their business application platforms and migrate those key systems to the cloud. The IBM X-Force expects to deliver business application vulnerability assessments and penetration testing services, and Exabeam will empower SOC teams with ERP threat visibility, monitoring and detection intelligence. Deepwatch will provide the industry’s first managed business application threat monitoring and detection services.
One of the most exciting developments for Onapsis was the release of the new Onapsis Platform, which delivers next-generation actionable insight, secure change, automated governance and continuous monitoring capabilities to help optimize and protect business-critical applications for application development, IT management, cybersecurity and compliance teams in a single, integrated platform.
Check out updates at our webinar on Friday, August 23 at 1PM ET. For more information and a demo of the Onapsis Platform!