Onapsis, a Boston-Based Company Raised $55 Million in a Series D Funding Round


Onapsis, a Boston-based organisation that offers mission-critical software of cybersecurity and regulatory strategies, reported on Tuesday that it has raised $55 million in a Series D funding round.

Caisse de dépôt et placement du Québec (CDPQ) and NightDragon, with the involvement of established founders, .406 Ventures, LLR Partners and Arsenal Business Partners, led the new fund, taking the total generated by the firm to $117 million.

The business also revealed support for Salesforce and SuccessFactors on Tuesday, and that it has introduced an early access programme for Salesforce’s Onapsis Platform and SuccessFactors’ Onapsis Platform.

Onapsis says it will use the newly raised funds to “significantly expand the business by accelerated expansion into the mission-critical SaaS applications segment, beginning with Salesforce and SuccessFactors apps security and enforcement.”

The business offers a forum to recognise, prioritise and fix bugs, misconfigurations and fraudulent behaviour through organisations that may pose a danger to critical systems and records.

It plans to launch an early access assistance service for Oracle HCM Cloud, Oracle ERP Cloud, Workday and other SaaS applications in the coming months.

Onapsis reports that its annual recurring income has grown by more than 145 percent, and states it has a 98 percent retention rate for consumers. The organisation claims 300 big companies, including 20 percent of the Fortune 100 firms, are using its products.

Onapsis is also known for its testing unit, which has detected more than 800 flaws, especially in SAP and Oracle materials.

Melina Richardson
Melina Richardson is a Cyber Security Enthusiast, Security Blogger, Technical Editor, Certified Ethical Hacker, Author at Cybers Guards. Previously, he worked as a security news reporter.