Onapsis, a Boston, MA-based provider of a SAP and Oracle enterprise application security platform, closed $17m in Series B funding.
The round was led by Evolution Equity Partners, with participation from existing investor .406 Ventures as well as new investor Arsenal Venture Partners. In conjunction with the funding, J.R. Smith, partner at Evolution and former CEO at AVG Technologies (NYSE: AVG), will join Onapsis’ board of directors.
The company, which has raised $30m since inception, intends to use the funds to scale research and development efforts and expand sales, marketing and customer success teams.
Led by Mariano Nunez, CEO and co-founder, Onapsis provides solutions for securing SAP and Oracle enterprise applications serving over 180 Global 2000 customers, including 10 top retailers, 20 top energy firms and 20 top manufacturers.
Onapsis’solutions are also used by consulting and audit firms such as Accenture, IBM, Deloitte, E&Y, KPMG and PwC.
The Onapsis Security Platform, which is a SAP-certified cyber-security solution, delivers both preventative vulnerability and compliance controls, as well as real-time detection and incident response capabilities to reduce risks affecting critical business processes and data. Through open interfaces, the platform can be integrated with SIEM, GRC and network security products, incorporating enterprise applications into existing vulnerability, risk and incident response management programs.