Creator of Most-Widely Used Business Application Protection Platform Extends Market Leadership Position
BOSTON–(BUSINESS WIRE)–Onapsis™, the leader in business application protection, announced today details of its significant growth in the first six months of 2019. Fueled by the acquisition of former competitor Virtual Forge, strategic partnerships and key executive appointments, Onapsis has realized triple-digit customer and employee growth while expanding its global operations footprint to Europe and Asia-Pacific.
“This has been an incredible first half of the year for Onapsis,” said Mariano Nunez, CEO and Co-founder of Onapsis. “Our decisions to acquire Virtual Forge, grow our executive team and accelerate strategic partnerships with industry leaders has had immediate material impact on our business. These investments, coupled with the acceleration of cloud initiatives among enterprise organizations and the increasing volume of critical threats against ERP systems, have created an all-time high demand for solutions that automate the management and protection of business-critical applications. We are strongly positioned to sustain hypergrowth and help our customers transform their business applications with confidence.”
Onapsis First Half 2019 highlights include:
- Sustained hypergrowth of 80%+ in new annual recurring revenue (ARR) compared to First Half 2018, fueled by triple-digit customer and employee growth.
- Strong retention rates of 95%+ across the global customer base, with significant expansion business through value-added software offerings.
- Acquisition of Virtual Forge, immediately adding market-leading and patented custom code analysis, secure transport inspection and automated custom-code repair and remediation capabilities to the Onapsis Platform.
- Appointment of Industry Influencer Gerhard Eschelbeck, former CISO with Google, to the Board of Directors in support of Onapsis’s cloud-based business application protection product strategy.
- The addition of strategic executives, including Darren Gaeta as Vice President, Strategic Alliances and Channels; Jason Fruge as Vice President, Business Application Cybersecurity; Annabel Lewis as Chief Legal Officer; and Jonathan Daly as Vice President, Global Marketing.
- The discovery and mitigation of 10KBLAZE, a critical SAP exploit which can lead to full compromise of vulnerable SAP systems at over 50,000 companies worldwide. Given the criticality of this threat, the United States DHS issued a US-CERT alert and Onapsis released open-sourced components of its technology to protect all global SAP customers, including those not currently using the Onapsis Platform.
- Strategic partnerships with industry leaders, including Verizon Enterprise Solutions and IBM Global Business Services to help SAP and Oracle EBS customers securely modernize their business application platforms and migrate those key systems to the cloud; IBM X-Force to deliver business application vulnerability assessment and penetration-testing services; Exabeam to empower SOC teams with ERP threat visibility, monitoring and detection intelligence; and deepwatch to deliver the industry’s first managed business application threat monitoring and detection services.
- Launch of the new Onapsis Platform, which delivers next-generation actionable insight, secure change, automated governance and continuous monitoring capabilities to help optimize and protect business-critical applications for application development, IT management, cybersecurity and compliance teams in a single, integrated platform.
- The release of the “Impact of Cloud on ERP” survey report with the Cloud Security Alliance (CSA), which found 69 percent of organizations are migrating data for popular ERP applications to the cloud, with the overwhelming majority (nearly 90 percent) stating that these applications are business-critical.
- Certifications for EU Data Privacy and ISO/IEC 27001:2013, after an extensive audit of the company’s research and development efforts. Both certifications demonstrate Onapsis’s conformity with strict quality management principles and validate compliance data protection requirements such as GDPR in support of transatlantic commerce.
Onapsis protects the applications that run the global economy. Only Onapsis delivers a next-generation business application platform that provides the actionable insight, change assurance, automated governance and continuous monitoring capabilities required by cross-functional teams to discover risk, optimize workflows, control change and automate reporting. Onapsis’s wholistic approach empowers enterprise organizations to embrace and accelerate SAP and Oracle E-Business Suite modernization, cloud and mobility initiatives, while keeping their ERP, CRM, PLM, HCM, SCM, BI and cloud-based business-critical applications protected and compliant.
Headquartered in Boston, MA, and with regional offices in Heidelberg, Germany and Buenos Aires, Argentina, Onapsis proudly serves more than 300 of the world’s leading brands and organizations, including many of the Global 2000. Through our unique strategic alliances with leading consulting and audit firms such as Accenture, Deloitte, IBM, Infosys, PwC and Verizon, Onapsis solutions have become the de-facto standard in helping organizations protect what matters most. For more information, connect with us on Twitter or LinkedIn, or visit us at https://www.onapsis.com.
Onapsis and Onapsis Research Labs are registered trademarks of Onapsis Inc. All other company or product names may be the registered trademarks of their respective owners.
Emily Mong, 617.986.5006