Onapsis Inc. Raises Nearly $10M in Funding Led by .406 Ventures to Expand Security Solutions for ERP and Business-Critical Applications
Leading Provider of Security Solutions for SAP and Oracle Secures Funding to Further Address the Growing Threat of Cyber-Attacks Targeting Business-Critical Applications
CAMBRIDGE, Mass., June 18, 2014-- Onapsis Inc., a leading provider of solutions to audit and mitigate cyber security threats targeting business-critical applications, has raised $9.58m in funding led by .406 Ventures and supported by Endeavor Catalyst and existing investors.
Headquartered in Cambridge, Massachusetts, with offices in Argentina, Germany and France, Onapsis protects business-critical applications that manage highly-sensitive business information and processes including 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.
The $9.58m million funding will allow Onapsis to enhance its product offerings and expand its global sales operations. It will also be used to further enhance the company's research and engineering teams to build on its market-leading products and adapt to the growing demand of the company's solutions.
Maria Cirino, Partner at .406 Ventures, who will be joining the Onapsis Board, said: "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. 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. We're thrilled to be backing a world class team and a transformational information security company."
"Very few investors understand the cyber security industry as well as .406 Ventures. We are excited about this new partnership and the addition of Maria to our Board, who brings a track record of founding, running and scaling unique security companies," said Mariano Nunez, CEO and Co-Founder at Onapsis. "We are also delighted to count on the support of Endeavor and our existing investors, which have been instrumental in helping us scale our business to support the fast-growing demand for our security solutions."
About .406 Ventures | http://www.406ventures.com
.406 Ventures is an early-stage venture capital firm that invests in innovative Information Technology ("IT") companies founded by the finest entrepreneurs. .406 Ventures was founded in 2005 by Maria Cirino, Larry Begley and Liam Donohue. The .406 team comprises industry entrepreneurs, operators and investors who apply real world experience, deep industry knowledge and networks, and strong company-building skills to create value for its entrepreneurs and investing partners. The firm is often the lead, first institutional investor in market-changing Enterprise IT companies led by visionary entrepreneurs and strong teams who move quickly and embody successful entrepreneurial DNA with their passion, creativity and endurance.
About Endeavor | http://www.endeavor.org
Hailed by New York Times columnist Thomas Friedman as "the best anti-poverty program of all," Endeavor is leading the global movement to catalyze long-term economic growth by selecting, mentoring, and accelerating the best high-impact entrepreneurs around the world. To date, Endeavor has screened more than 37,000 entrepreneurs and selected 917 individuals leading 585 high-impact companies.
With support from Endeavor's worldwide mentor network, these high-impact entrepreneurs:
•Have created nearly 400,000 jobs
•Generated $6.5 billion in revenues in 2013
•Inspire future generations to innovate and take risks.
Headquartered in New York City, Endeavor currently operates in 20 countries throughout Europe, Latin America, Africa, Southeast Asia and the Middle East.
About Onapsis | www.onapsis.com
Onapsis Inc. is the leading provider of cyber security solutions to audit and protect business-critical applications, including Enterprise Resource Planning (ERP), Supply Chain Management (SCM) and Business Intelligence (BI).
Onapsis' solutions empower information security and audit professionals to understand and efficiently mitigate the cyber security risks affecting their SAP, Oracle and other business-critical applications, preventing espionage, sabotage and financial fraud attacks while streamlining compliance with internal and regulatory requirements.
As the industry standard, trusted by the leading audit firms and deployed by Global 1000 and military organizations, Onapsis X1 is the most widely-used solution to detect cyber security risks and compliance violations affecting SAP business platforms. Unmatched by generic security monitoring products, Onapsis X1's unique SAP-certified capabilities integrate seamlessly into existing GRC and Risk Management practices, providing unprecedented visibility to protect critical business processes and information.
At the heart of the company, the Onapsis Research Labs consists of the thought-leaders that continue to redefine the ERP security industry. Being the first experts to uncover and report on business-critical cyber security vulnerabilities, the team is continuously invited to lecture on current and future threats to business platforms, including SAP and Oracle, at world-leading security conferences. This laser-focused, innovative research is continuously incorporated into Onapsis products, enabling customers to rely on the most comprehensive and widely-adopted ERP cyber security solutions in the industry.
For more information please visit www.onapsis.com and follow us on Twitter: @onapsis
1 (617) 603-9932
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