Onapsis Achieves Strong Momentum in 2023 Accelerating Leadership in Business Application Security and Compliance Market

Onapsis announces growth, groundbreaking product innovation, strategic partnerships, and industry recognition

Onapsis, the market leader in business application security and compliance, today announced its continued success in business-critical application cybersecurity and compliance, bolstered by a year of achievements and advancements including groundbreaking product innovations, strategic partnerships, impactful research findings, and company growth.

"2023 has been a strong year for Onapsis, marked by unwavering commitment to customers, product innovation, and unmatched resiliency of our team. Our achievements are a testament to the relentless focus in protecting the business applications that power the global economy, further empowering SAP organizations to securely accelerate their S/4HANA Cloud, BTP, and RISE digital transformations,” said Mariano Nunez, CEO of Onapsis. “We're excited to carry this momentum into 2024, with ambitious plans to expand our solutions, empower our customers, and further consolidate our position as the industry leaders in SAP and ERP security, underpinned by accelerated profitable and sustainable growth."

Continued Core Business Performance:

Onapsis continued successfully signing dozens of the world’s largest SAP customers, including numerous Global 2000 organizations, to its customer base, which now comprises hundreds of organizations and close to 30% of the Forbes Global 100.

On top of the success in attracting new customers, the business continued to deliver outstanding value to existing ones, materialized by best-in-class customer satisfaction scores and retention rates. Further financial performance achievements include strong margin expansion, increased efficiency, and profitable annual recurring revenue (ARR) growth.

Notably, Onapsis was named to the 2023 Inc. 5000 List of Fastest Growing Companies for the third consecutive year, underscoring its continued growth and leadership in the industry.

Innovative Excellence and Industry Impact

Onapsis has maintained its leadership by constantly pushing the boundaries of product innovation. In 2023, the company released over 200 new features and capabilities, including ground-breaking innovations like the AI-powered Onapsis Security Advisor and advanced SAP User Behaviour Analytics. These innovations have received recognition in the form of industry awards, accolades, and high praise from customers and analysts alike.

Having already discovered and reported 1,000+ zero-day vulnerabilities in business-critical applications, the world-recognized Onapsis Research Labs partnered with the SAP’s security and engineering teams to help mitigate dozens of newly-discovered SAP security zero-days, including a threat of chainable exploitable vulnerabilities dubbed "P4CHAINS,” continuing to make significant contributions to the security of all SAP customers worldwide.

Strengthening Market Leadership and Accelerating Innovation

In 2023, Onapsis powered its momentum with strategic initiatives and pivotal partnerships. SAP and Onapsis established a new go-to-market partnership, officially announcing the Onapsis Cybersecurity and Compliance Platform (EA Edition) as a premium certified SAP Endorsed App. As the only cybersecurity and compliance Endorsed App from SAP for business applications, Onapsis has accelerated its market leadership now working in close partnership with SAP’s global sales, solution management, product and partner organizations to provide customers with an endorsed solution to protect their on-premise and SAP S/4HANA Cloud, BTP, and RISE deployments.

Onapsis further continued accelerating success across its premier partner ecosystem featuring the world’s leading system integrators, including Deloitte, Capgemini, IBM, KPMG and PwC, and signing a new strategic partnership with Wipro, empowering joint customers on their digital transformation journeys while securing their business-critical SAP applications.

Additionally, Onapsis expanded its global reach by establishing new research and development centers in Dallas, Texas and in Bucharest, Romania. These expansions reflect Onapsis’ dedication to innovation and its proactive approach to addressing emerging application security challenges. As part of its growth strategy, Onapsis is aggressively recruiting engineering and cybersecurity talent in Romania, currently with over 200 positions open across various departments.

About Onapsis

Onapsis protects the business applications that run the global economy. The Onapsis Platform delivers vulnerability management, change assurance, and continuous compliance for business applications from leading vendors such as SAP, Oracle, and others. The Onapsis Platform is powered by the Onapsis Research Labs, the team responsible for the discovery and mitigation of more than 1,000 zero-day vulnerabilities in business applications.

Onapsis is headquartered in Boston, MA, with offices in Heidelberg, Germany and Buenos Aires, Argentina, and proudly serves hundreds of the world’s leading brands, including close to 30% of the Forbes Global 100, six of the top 10 automotive companies, five of the top 10 chemical companies, four of the top 10 technology companies, and three of the top 10 oil and gas companies.

For more information, connect with Onapsis on Twitter or LinkedIn, or visit https://www.onapsis.com.

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