[January 18, 2018] |
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Onapsis Achieves Record Growth for Fifth Consecutive Year, Further Delivering on Growing Demand for Business-Critical Application Security
Onapsis, the global experts in SAP and Oracle (News - Alert) application cybersecurity
and compliance, today announced key highlights from another highly
rewarding year. The momentum from this year confirms the company's
leadership in the newly
established market of business-critical application security. In
addition to an outstanding increase in year-over-year recurring revenue
for the fifth consecutive year, Onapsis added dozens of new Fortune 2000
customers across the United States and Europe, representing industries
including Oil & Gas, Energy, Entertainment and Pharmaceuticals. Driving
this growth was the confirmation of Onapsis as the de-facto standard for
securing SAP platforms, as well as Onapsis's
product expansion into Oracle E-Business Suite, further
demonstrating the company goal to secure ERP applications from
cyberattacks.
"I'm very proud of the achievements and growth of the company in 2017 as
it marks another hallmark year of rewarding milestones achieved by
Onapsis. Our sustained hypergrowth and immediate acceptance of new
product enhancements further validates the very real and evolving
urgency organizations face to gain visibility into and proactively
protect applications that run their most critical business processes. As
threats in the market continue to progress and organizations are faced
with strategic digital or cloud transformation projects, we are
continuing to provide the market with the advanced research, technology
and processes necessary to protect against threats and safeguard
compliance programs as well as the business 'crown jewels'," said
Mariano Nunez, CEO and Co-founder of Onapsis.
2017 demonstrated a turning point in the maturity of business-critical
application cybersecurity. Organizations are no longer looking at this
problem as a 'nice to fix,' but a 'must fix' as they move into 2018.
Business-Critical Application Security (News - Alert) was cited by Gartner in its "Hype
Cycle for Application Security, 2017."1 In the report,
contributing VP Distinguished Analyst Neil MacDonald writes, "As
business-critical applications are opened up to partners and exposed on
the public internet, and as attackers target these applications, their
risk profile is changing. By definition, business-critical application
security applies to applications critical to the functioning of the
business. Downtime of the core ERP system of an enterprise can be
catastrophic. Outages and theft caused by hackers should be viewed as
critical as downtime caused by hardware or software failures."1
Over 87% of the Global 2000 rely on business-critical applications, such
as SAP and Oracle, to manage their data including ERP, HCM, CRM, PLM, BI
and SCM. Despite housing an organization's 'crown jewels,' i.e.
intellectual property, financial, credit card and database warehouse
information, and customer and supplier data, SAP and Oracle systems and
their application layer are not protected by traditional security
solutions. In addition, these systems are very complex, often having
been implemented with customizations that map to specific business
processes as outlined by an organization, making them more difficult to
secure.
"As the ERP cybersecurity market continues to mature, we are proud to
have expanded our mission to transform the way that organizations
approach not only their cybersecurity posture for SAP, but for Oracle
ERP applications as well, whether running on premise or in a cloud
environment," continued Nunez. "We are set up for success in 2018,
already executing against very ambitious goals to capture the huge
opportunity we have in front of us."
Additional key milestones for Onapsis Inc. in 2017 include:
Growth
-
Record YoY growth in Annual Recurring Revenue (ARR) and Bookings, for
the fifth consecutive year
-
Further expansion into marquee Fortune 2000 customers, including two
Top-3 technology companies, and key expansion into global
pharmaceutical, retail and automotive companies
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Record renewal rate of 90%+ with Onapsis Security Platform customers,
including strong business expansion within the customer base
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Expanded the company to over 150+ employees worldwide, including
significant growth across the Sales, Product and R&D Teams
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Expanded joint revenue and GTM campaigns through strategic alliances
with the world's leading system integrators and audit & consulting
firms
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Extended leadership team by appointing Ashish
Larivee as Chief Product Officer
Product Development
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Released the Onapsis
Security Platform for Oracle E-Business Suite (EBS) applications
to further extend into the Business-Critical Application Security
market
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Architected the Onapsis Security Platform to be cloud-ready,
supporting on premise, hybrid or private cloud environments and
enabling organizations to perform secure digital transformations
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Released GDPR
functionality for the Onapsis Security Platform to allow customers
to easily meet upcoming compliance mandates
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Continued to keep customers updated with the most recent SAP
vulnerability protection with bi-monthly product enhancements with the
latest OSP version of 1.9.14
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Developed and expanded business partnerships with industry-leading
companies such as Amazon Web Services, Deloitte, IBM (News - Alert), PwC, T-Systems
and others
Recognition
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Named one of the fastest growing technology companies in North America
by Deloitte's
2017 Technology Fast 500TM
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Recognized by SC Magazine as an "Industry Innovator" in Security
Infrastructure
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Recognized as a Sample Vendor in the Gartner "Hype Cycle for
Application Security, 2017"1
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Onapsis Security Platform received an outstanding "First Look" review
by SC Magazine
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Recognized as a Red
Herring Top 100 Company in both North America and Global
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Invited to lecture at over 20 global conferences, including RSA
Conference, Black Hat, Evanta CISO, SAP TechEd, SAP GRC, SAP
Cybersecurity and numerous others
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Ranked #3 of 50 companies in Great
Places to Work Survey
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Continued to develop the company's IP portfolio, filing several new
patent applications
Market Leadership
1Gartner, "Hype Cycle for Application Security,
2017" Analyst(s): Ayal Tirosh, Published: 28 July 2017, ID: G00314199.
Disclaimer
Gartner does not endorse any vendor, product or service depicted in its
research publications, and does not advise technology users to select
only those vendors with the highest ratings or other designation.
Gartner research publications consist of the opinions of Gartner's
research organization and should not be construed as statements of fact.
Gartner disclaims all warranties, expressed or implied, with respect to
this research, including any warranties of merchantability or fitness
for a particular purpose.
About Onapsis
Onapsis cybersecurity solutions automate the monitoring and protection
of your SAP and Oracle applications, keeping them compliant and safe
from insider and outsider threats. As the proven market leader, global
enterprises trust Onapsis to protect the essential information and
processes that run their businesses.
Headquartered in Boston, MA, Onapsis serves over 200 customers including
many of the Global 2000. Onapsis's solutions are also the de-facto
standard for leading consulting and audit firms such as Accenture (News - Alert),
Deloitte, E&Y, IBM, KPMG and PwC.
Onapsis solutions include the Onapsis Security Platform™, which is the
most widely-used SAP-certified cybersecurity solution on the market.
Unlike generic security products, Onapsis's context-aware solutions
deliver 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 leading SIEM, GRC and
network security products, seamlessly incorporating enterprise
applications into existing vulnerability, risk and incident response
management programs.
These solutions are powered by the Onapsis Research Labs, who
continuously provide leading intelligence on security threats affecting
SAP and Oracle enterprise applications. Experts at the Onapsis Research
Labs were the first to lecture on SAP cyberattacks and have uncovered
and helped fix hundreds of security vulnerabilities to-date affecting
SAP Business Suite, SAP HANA, SAP Cloud and SAP Mobile applications, as
well as Oracle JD Edwards and Oracle E-Business Suite platforms. Onapsis
has been issued U.S. Patent No. 9,009,837 entitled "Automated Security
Assessment of Business-Critical Systems and Applications," which
describes certain algorithms and capabilities behind the technology
powering the Onapsis Security Platform™. This patented technology is
well known, industry wide, and has gained Onapsis recognition on the
Deloitte Technology Top 500, as a Red Herring North America Top 100
company and a SINET 16 Innovator.
For more information, please visit www.onapsis.com,
or connect with us on Twitter,
Google+,
or LinkedIn.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180118005435/en/
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