Onapsis, which provides cybersecurity and compliance services for SAP, Oracle, and Salesforce, raises $55M Series D, bringing its total raised to $117M
Onapsis, a Boston-based company that provides cybersecurity and compliance solutions for mission-critical applications …
Context & Ripple Effects
Onapsis's 2020 Series D now reads as the opening bet on a category that got crowded fast: security for the business-critical application layer — ERP and CRM — rather than networks or endpoints. At $117M total raised, it was one of the larger pure-plays focused specifically on SAP, Oracle, and Salesforce estates.
The follow-on coverage confirms the thesis attracted escalating capital: AppOmni went from $40M Series B in 2021 to a $70M Series C within roughly a year, Obsidian followed with a $90M round (its Series C led by Menlo Ventures), and Odaseva's $54M Salesforce-focused Series C in 2024 showed the category splitting into platform-wide and single-vendor specialists.
First-order effects
- Onapsis gains $55M to deepen coverage of mission-critical SAP, Oracle, and Salesforce applications at exactly the moment enterprises are moving those workloads to cloud and need compliance tooling to follow.
- The round puts a fresh price tag on application-layer security, giving buyers a funded, dedicated vendor option alongside their existing ERP and CRM suppliers.
Second-order effects
- Rivals AppOmni, Obsidian Security, and Anitian respond by raising still-larger rounds, turning what Onapsis validated into an arms race for the same enterprise security budgets.
- Specialists like Odaseva carve out single-platform niches (Salesforce data protection), forcing generalists like Onapsis to compete on breadth versus depth.
Third-order effects
- If the funding cadence holds, enterprise security spending structurally migrates toward the SaaS and business-application layer, with a handful of well-capitalized platforms emerging and point tools consolidating around them.
The trend: Venture capital is steadily repricing security for business-critical SaaS and ERP applications upward, with each successive round larger than Onapsis's pioneering 2020 bet.