Onapsis Company Profile

Background

Overview

Onapsis is a cybersecurity company specializing in the protection of business-critical applications, particularly those from SAP and Oracle. Founded in 2009 and headquartered in Boston, Massachusetts, Onapsis has established itself as a leader in securing enterprise resource planning (ERP) systems and other essential business applications. The company operates globally, serving over 300 leading brands, including 20% of the Fortune 100.

Mission and Vision

Onapsis's mission is to safeguard the business applications that power the global economy. Its vision is to provide organizations with the tools to lower risks and protect their valuable assets by delivering comprehensive cybersecurity solutions tailored for ERP systems.

Industry Significance

In an era of increasing cyber threats targeting enterprise applications, Onapsis plays a critical role in ensuring the security and compliance of ERP systems. The company's solutions are trusted by numerous global enterprises, making it a significant player in the cybersecurity landscape.

Key Strategic Focus

Core Objectives

Onapsis focuses on delivering actionable insights, secure change, automated governance, and continuous monitoring for critical systems, including ERP, CRM, PLM, HCM, SCM, and BI applications. The company's primary objective is to provide comprehensive security solutions that address the unique challenges of business-critical applications.

Areas of Specialization

The company specializes in the cybersecurity of SAP and Oracle applications, offering solutions that encompass vulnerability management, threat detection and response, change assurance, and continuous compliance.

Key Technologies Utilized

Onapsis leverages proprietary technologies developed by its Onapsis Research Labs, which are responsible for the discovery and mitigation of numerous zero-day vulnerabilities in business applications. These technologies enable the company to provide context-aware solutions that deliver both preventative controls and real-time detection capabilities.

Primary Markets Targeted

Onapsis primarily targets large enterprises across various industries, including manufacturing, utilities, chemicals, pharmaceuticals, automotive, technology, and oil and gas sectors. The company's solutions are designed to secure both on-premises and cloud-based ERP systems, catering to organizations undergoing digital transformation initiatives.

Financials and Funding

Funding History

Onapsis has secured multiple funding rounds to support its growth and expansion:

Series D Round (November 2020): The company raised $55 million in a Series D funding round, which was utilized to scale operations and expand into the business-critical SaaS application market.

Total Funds Raised

While specific figures for total funds raised are not publicly disclosed, the Series D funding round in 2020 indicates significant investment in the company's growth and development.

Pipeline Development

Onapsis's pipeline development focuses on enhancing its cybersecurity solutions for business-critical applications. The company has introduced new features, such as the Secure RISE Accelerator, to simplify SAP cloud transformations, and expanded security capabilities for the SAP Business Technology Platform (SAP BTP). These developments aim to address the evolving security needs of organizations undergoing digital transformation.

Technological Platform and Innovation

Proprietary Technologies

The Onapsis Platform is powered by proprietary technologies developed by the Onapsis Research Labs, which have been responsible for the discovery and mitigation of numerous zero-day vulnerabilities in business applications.

Significant Scientific Methods

Onapsis employs advanced scientific methodologies, including automated security assessments and continuous monitoring, to identify and mitigate vulnerabilities in business-critical applications. These methods are designed to provide comprehensive security coverage for complex ERP environments.

Leadership Team

Key Executives

Mariano Nunez: CEO and Co-founder. With over 20 years of experience in the cybersecurity industry, Mariano has been instrumental in establishing Onapsis as a leader in business-critical application security.

Kellie Snyder: Chief Customer Officer. Appointed in 2022, Kellie focuses on enhancing customer relationships and ensuring the delivery of value-driven solutions.

Sadik Al-Abdulla: Chief Product Officer. Also appointed in 2022, Sadik oversees product development and innovation to meet the evolving needs of Onapsis's clientele.

Denis Cashman: Chief Financial Officer. Joined in 2022, Denis is responsible for managing the company's financial operations and strategic financial planning.

Leadership Changes

In 2022, Onapsis appointed three new executives: Kellie Snyder as Chief Customer Officer, Sadik Al-Abdulla as Chief Product Officer, and Denis Cashman as Chief Financial Officer. These appointments reflect the company's commitment to strategic growth and innovation.

Competitor Profile

Market Insights and Dynamics

The market for business-critical application security is experiencing significant growth due to increasing cyber threats targeting enterprise applications. Organizations are investing in specialized solutions to protect their ERP systems, creating a dynamic and competitive landscape.

Competitor Analysis

Onapsis faces competition from various cybersecurity firms offering solutions for ERP systems. Key competitors include SecurityBridge, Virtual Forge, and other specialized security providers. These companies offer similar services, such as vulnerability management and compliance solutions for SAP and Oracle applications.

Strategic Collaborations and Partnerships

Onapsis has established strategic partnerships with leading consulting and audit firms, including Accenture, Deloitte, IBM, PwC, and Verizon. These collaborations enhance the reach and effectiveness of Onapsis's solutions, integrating them into broader cybersecurity and compliance programs.

Operational Insights

Onapsis's strategic considerations include differentiating its specialized focus on business-critical applications from broader cybersecurity solutions. The company's deep expertise in ERP systems and its proprietary technologies provide a competitive advantage in addressing the unique security challenges of these applications.

Strategic Opportunities and Future Directions

Onapsis is well-positioned to capitalize on the growing demand for business-critical application security by continuing to innovate and expand its solution offerings. The company's focus on ERP systems, coupled with its strategic partnerships and recent leadership appointments, positions it to achieve future growth and objectives in the cybersecurity market.