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Onapsis, founded by Endeavor Entrepreneurs Mariano Nuñez and Victor Montero, is a leading business security solutions provider to top technology firms. The company recently announced a $17 million Series B funding round led by Evolution Equity Partners, which was co-founded by Endeavor Bulgaria Board Member Dennis Smith. This round brings the total investment in Onapsis to $30 million since the company’s inception.
Onapsis gives organizations the adaptive advantage to succeed in securing business-critical applications by combining technology, research and analytics. Onapsis enables every security and compliance team an adaptive approach to focus on the factors that matter most to their business– critical applications that house vital data and run business processes. As estimated by Onapsis, the SAP and Oracle enterprise application security market will grow to approximately $3.3B by 2018 with the majority of the Global 2000 using these applications in traditional as well as cloud and mobile platforms across on-premise, hybrid and public cloud solutions.This investment reflects the sharp rise in demand for specialized, scalable and comprehensive solutions from Global 2000 organizations to secure their critical SAP and Oracle enterprise applications as well as a rapidly maturing market.
With the influx of capital, Onapsis plans to scale research and development efforts and support the rapid adoption and delivery of its platform through expansion of sales, marketing and customer success teams. As part of the round, J.R. Smith, partner at Evolution and former CEO at AVG Technologies, will also join the company’s board of directors.
Since joining the Endeavor network in 2011, Mariano and Victor have received tailored mentorship and strategic advising through Endeavor’s global network. In addition, the team has made a number of investor connections with the help of the Endeavor Investor Network while regularly participating in global tours and conferences.
“Leading CISOs of Global 2000 organizations are realizing that traditional security products and methods are not designed to protect their SAP and Oracle enterprise applications from cyber attacks, leaving their crown jewels exposed,” said Mariano Nunez, CEO and co-founder, Onapsis. “This new round of funding, led by firms with an unmatched cybersecurity pedigree, further validates the demand for our solutions and our undisputed leadership in the enterprise application security market.”
Read more about the news in Onapsis’ press release by clicking here.
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