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- Onapsis
Onapsis Funding, Investors & Competitors
Onapsis has raised $113M across 4 funding rounds, most recently a $55M Series D in October 2020.
Last Onapsis funding round
$55M
Series D · Oct 2020
Cumulative funding Onapsis raised
$113M
across 4 funding rounds
Key investors in Onapsis
.406 Ventures
Arsenal Growth Equity
Evolution Equity Partners
LLR Partners
Marcos Galperin
Endeavor Catalyst
La Caisse
SLB
About Onapsis
Onapsis is a Boston-headquartered cybersecurity firm offering the Onapsis Security Platform for SAP, Oracle, and other ERP systems. SAP-certified, it provides vulnerability management, threat detection, and compliance controls for on-premise and cloud deployments. With offices in Heidelberg, Germany, and Buenos Aires, Argentina, the company founded in 2007 protects critical business processes for Fortune 500 enterprises worldwide.
Founded
2009
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Onapsis Funding History
Onapsis has raised a total of $113M across 4 funding rounds.
Onapsis' first fundraising round was a $10M Series A in June 2014. The most recent completed round was a $55M Series D in October 2020.
Onapsis funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Oct 2020 | Series D | La Caisse (lead); NightDragon (lead); LLR Partners; .406 Ventures; Arsenal Growth Equity | $55M | Onapsis is a Boston-based cybersecurity and compliance platform that protects mission-critical applications across cloud, hybrid, and on-premises environments. The company's platform enables organizations to identify, prioritize, and address vulnerabilities, misconfigurations, and malicious activity in systems like SAP, Oracle, Salesforce, and SuccessFactors. On October 6, 2020, Onapsis announced it had raised $55 million in Series D financing, with the round led by Caisse de dépôt et placement du Québec (CDPQ) and NightDragon, joined by existing investors .406 Ventures, LLR Partners, and Arsenal Venture Partners. The capital was earmarked for rapid expansion into the mission-critical SaaS applications market, beginning with protection and compliance tools for Salesforce and SuccessFactors, with planned launches for Oracle HCM Cloud, Oracle ERP Cloud, and Workday. At the time of the announcement, Onapsis reported that its annual recurring revenue had increased by over 145% year-over-year, and the company maintained a 98% customer retention rate. The platform was trusted by more than 300 of the world's largest global enterprises, including more than 20% of Fortune 100 companies, across major industries including automotive, chemical, technology, and oil and gas. Onapsis is also recognized for its research team, which has discovered and mitigated more than 800 zero-day vulnerabilities in mission-critical applications, with research and platform reach broadened through partnerships with consulting and audit firms including Accenture, Deloitte, IBM, PwC, and Verizon. |
| Apr 2018 | Series C | LLR Partners (lead); Evolution Equity Partners; .406 Ventures; Arsenal Growth Equity | $31M | Onapsis, a provider of business-critical application cybersecurity and compliance solutions for ERP systems like SAP and Oracle, closed a $31 million Series C minority funding round on April 13, 2018, led by LLR Partners with participation from .406 Ventures, Evolution Equity Partners, and Arsenal Venture Partners. This brought the company's total funding to $62 million, marking its largest single round at the time. David Stienes from LLR Partners joined the board of directors. The investment aimed to fuel growth by accelerating sales, customer success, marketing, product development, threat research, and channel partner programs. Onapsis served over 200 Fortune 2000 customers and was the de-facto standard for consulting firms like Deloitte, IBM, Infosys, and PwC. The company had achieved record year-over-year growth for five consecutive years and expanded to over 180 employees globally. Onapsis's platform integrates with SIEM, GRC, and network security products, powered by Onapsis Research Labs for threat intelligence on enterprise applications. Investors highlighted the multi-billion-dollar security and compliance problem amid digital transformation and ERP cloud migrations. Subsequent developments included a $55 million Series D round in October 2020 led by CDPQ and NightDragon, with participation from existing investors including LLR Partners, .406 Ventures, and Arsenal Growth Equity, bringing total funding over $116 million and expanding into mission-critical SaaS applications like Salesforce. |
| Sep 2015 | Series B | Evolution Equity Partners (lead); .406 Ventures; Arsenal Growth Equity; Marcos Galperin; SLB | $17M | - |
| Jun 2014 | Series A | .406 Ventures (lead); Marcos Galperin; Endeavor Catalyst | $10M | Onapsis is a Cambridge, MA-based provider of solutions to audit and mitigate cybersecurity threats targeting business-critical applications, particularly SAP and Oracle ERP systems. The company raised $9.58 million in funding on June 18, 2014, led by .406 Ventures with participation from Endeavor Catalyst and existing investors. Maria Cirino from .406 Ventures joined the Onapsis board following the round. The funding was intended to enhance product offerings, expand global sales operations, and strengthen research and engineering teams to meet growing demand for Onapsis's security solutions. CEO Mariano Nunez highlighted the strategic value of the partnership with .406 Ventures, noting their deep cybersecurity expertise, and expressed appreciation for Endeavor's support in scaling the business. |
Who has invested in Onapsis?
9 investors have backed Onapsis across its funding rounds, including .406 Ventures, Arsenal Growth Equity, Evolution Equity Partners, LLR Partners, Marcos Galperin and Endeavor Catalyst.
Lead investors include La Caisse, NightDragon, LLR Partners, Evolution Equity Partners and .406 Ventures.
Onapsis Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Jun 2014 | ||
| 3 | Participant | Sep 2015 | ||
| 2 | Lead | Apr 2018 | ||
| 2 | Lead | Sep 2015 | ||
| 2 | Participant | Jun 2014 | ||
| 1 | Lead | Oct 2020 | ||
| 1 | Lead | Oct 2020 | ||
This data is available for Pro users. Sign up to see all 9 Onapsis investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Onapsis
Onapsis has acquired 1 company to date.
Last acquisition by Onapsis was on January 16th 2019. Onapsis acquired Virtual Forge for undisclosed valuation.
Latest Acquisitions by Onapsis
| Description | Virtual Forge is a SAP cybersecurity provider, now part of Onapsis since the 2019 acquisition, specializing in vulnerability scanning and compliance for ERP systems. Flagship CodeProfiler, launched in 2009, analyzes custom code for risks. Serving global enterprises, it mitigates threats like ransomware and ensures GDPR adherence across SAP landscapes. |
| HQ Country | |
| HQ City | Heidelberg |
| Deal Date | 16 Jan 2019 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Onapsis acquisitions and their M&A valuation multiples. Start Free Trial | |
Onapsis Competitors
Onapsis competitors include listed companies like Mitek Systems and Palo Alto Networks, and private ones like OneTrust, Vanta, Phin Security and Tines.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $400M | - | $4.5B | 11.3x | ||
| Private | $220M | - | $4.2B | 18.9x | ||
| Private | - | - | $1.5B | - | ||
| Private | - | - | $1.1B | - | ||
| Publicly listed | $180M | $37M | $781M | 3.7x | ||
| Publicly listed | $11B | $1B | $307B | 25.9x |
Onapsis Public Comps
Onapsis is still privately-owned, but its public comps include Palo Alto Networks, CrowdStrike, IBM, Fortinet, Cloudflare, Okta, Zscaler, F5, Rubrik and Gen Digital.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $11B | $1B | 26.7x | 25.9x | 301.1x | 76.9x | |||
| $4.8B | ($12M) | 51.4x | 44.5x | (19816.2x) | 151.0x | |||
| $68B | $17B | 4.2x | 4.0x | 16.9x | 14.6x | |||
| $6.8B | $2.3B | 18.1x | 15.9x | 53.7x | 41.9x | |||
| $2.2B | ($25M) | 54.6x | 44.3x | (4653.4x) | 185.1x | |||
| $2.9B | $245M | 10.6x | 10.0x | 126.4x | 36.4x | |||
| $3.4B | $42M | 9.1x | 8.9x | 721.8x | 32.5x | |||
| $3.1B | $901M | 7.5x | 6.9x | 25.8x | 18.3x | |||
This data is available for Pro users. Sign up to see all Onapsis competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Onapsis
| When was Onapsis founded? | Onapsis was founded in 2009. |
| Where is Onapsis headquartered? | Onapsis is headquartered in Boston, MA, United States. |
| Is Onapsis publicly listed? | No, Onapsis is a private, VC-backed company. |
| How much funding has Onapsis raised? | Onapsis has raised $113M across 4 funding rounds. |
| What was Onapsis' last funding round? | Onapsis' last funding round was a $55M Series D in October 2020, led by La Caisse and NightDragon. |
| Who are Onapsis' investors? | Onapsis' investors include .406 Ventures, Arsenal Growth Equity, LLR Partners, Evolution Equity Partners, Marcos Galperin, NightDragon, La Caisse, Endeavor Catalyst and SLB. |
| Which companies are comparable to Onapsis? | Companies comparable to Onapsis include OneTrust, Vanta, Phin Security, Tines, Mitek Systems and Palo Alto Networks. |
| How many companies has Onapsis acquired? | Onapsis has acquired 1 company, including Virtual Forge. |
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