Security provider Onapsis closed a $9.5 million round led by .406 Ventures today.
Onapsis is based in Cambridge, Mass., and has staked its position on countering cyberthreats and hacks that target business infrastructures. Onapsis currently has 100 clients, including government organizations. Onapsis previously raised $3 million.
Onapsis got their start in the beautiful city of Buenos Aires in 2009. Founder and chief executive Mariano Nunez brought his team, and the technology, to Cambridge in 2012. Onapsis employs 60 and is growing — quickly.
“It’s kind of a hybrid solution,” the friendly Nunez told VentureBeat. “It connects to your system in the cloud or on premise.”
Nunez and his team have focused their preventative security software on platforms running SAP. Onapsis is an outward-facing program designed to detect and thwart hacks and malware breaches. While some security plays sit inside your system and internally look for trouble, Onapsis prizes itself on preventing viruses from breaking the walls.
However, Nunez said his development team is crafting a platform that works internally, what security experts call “intuitive” threat detection.
To that end, Onapsis has lined up an impressive roster of clients in both the private and government sphere, including Siemens, Westinghouse, and Deloitte. One of their first launch customers was none other than the U.S. Army, who are constantly facing breaching attempts by hostile governments.
In a release trumpeting the funding, Onapsis said:
“Onapsis X1 is the most widely used solution to detect cybersecurity 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.”
The company partnered with SAP eight years ago, helping the German software giant’s security teams in identifying critical issues in their software and helping to plug the gaps.
“Our research team was the first one to detect critical cybersecurity risks in SAP platforms, and we have been working with SAP AG since,” Nunez said.
Onapsis’ solutions focus on protecting “business-critical applications that manage highly sensitive business information and processes including enterprise resource planning, supply chain management, and business intelligence.”
In addition to engineers, Onapsis employs a full-time in-house research team.
“Our team is really quite prolific in detecting security vulnerabilities and risks,” Nunez said.
Nunez’s team will use the cash to “enhance” its product line and expand sales internationally. In addition to Cambridge, Onapsis has operations in Germany, France, and Latin America.
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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). Our solut... read more »
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