Onapsis Secures $31M Series C
April 16, 2018
has secured a $31 million Series C minority funding round led by
new investor LLR Partners, with participation from existing
institutional investors .406 Ventures, Evolution Equity Partners
and Arsenal Venture Partners. This marks the largest single
round of funding in the company’s history, bringing the total
investment in Onapsis to $62 million. David Stienes, Partner at
LLR Partners, will join the company’s board of directors.
The expanded investment in Onapsis will help further accelerate
the company’s growth and position as the leader in protecting
ERP systems and business-critical applications, such as SAP and
Oracle. These applications run the Global 2000 and manage their
crown jewels ranging from sensitive customer and employee
information to finances, manufacturing processes and
intellectual property, yet they have historically been left
exposed and are a perfect economic target for attackers. The
potential downtime, data breaches and fraud can result in
significant negative financial and reputational impact.
"We are excited to welcome LLR Partners to the Onapsis team,
augmenting the group of industry-leading investors who support
our vision of securing the world's business-critical
applications," said Mariano Nunez, CEO and Co-founder of Onapsis.
"The capital investment will be dedicated to fueling growth and
delivering even more value to our customers and partners."
Onapsis will leverage the investment to further penetrate the
business-critical application security market by accelerating
sales, customer success and marketing efforts. Additionally, the
company will further invest in product development and
innovation, threat research and scaling its channel and partner
programs. Already, Onapsis has amassed a portfolio of over 200
marquee Fortune 2000 companies, achieved record year-over-year
growth for five consecutive years and expanded the company to
over 180 employees globally.
is helping to solve a multi-billion-dollar security and
compliance problem, which is now becoming even more widespread
with complex digital transformation and ERP cloud migration
projects on almost all board room agendas. We are excited to
partner with the Onapsis team and leverage our experience and
expertise in cybersecurity to help them execute their vision,”
said David Stienes, Partner at LLR Partners.
“I invested in Onapsis five years ago because they were the
first company solving a critical gap in cybersecurity by
exclusively focusing on and securing mission-critical ERP
systems. The bet was that companies that had made an enormous
investment in their ERP systems would want higher levels of
visibility and protection that were simply not available before
Onapsis. It’s gratifying to see the company experience great
success by delivering on their promise of securing the ERP
systems of many of the largest and most demanding companies in
the world. I look forward to continuing to support the Onapsis
team as they take the company to new heights by delivering on
their mission,” said Maria Cirino, Co-founder and Managing
Partner, .406 Ventures.