Onapsis, a Boston-based startup that provides cybersecurity and compliance assistance, has been experiencing massive growth over the last year, and will be finishing it off in a way few other companies can: extra time off for its employees.
In October the company announced closing on a $55 million Series D round led by Caisse de dépôt et placement du Québec and NightDragon, and detailed its growth thus far. In short, Onapsis’ annual recurring revenue has grown by more than 145 percent, and the company has established partnerships with heavy hitters like Deloitte, IBM and Verizon. Founder and CEO Mariano Nunez was also named on Boston Business Journal’s 40 Under 40 list.
Looking ahead, Onapsis, which uses its technology to give security teams visibility and control over potential cyberthreats, will be moving into the SaaS applications market — a game changer in the industry. This expansion will allow Onapsis to better protect companies and accelerate their digital transformation initiatives by delivering cybersecurity and compliance solutions for all applications running on-premises and on the cloud.
“Legacy security solutions don’t meet the requirements of today’s business applications — especially in the SaaS world,” Dave DeWalt, founder of NightDragon and vice chairman of Onapsis’ board of directors, said in a statement. “These applications, which are at the core of every enterprise’s digital transformation and have accelerated due to the global pandemic, are facing the perfect storm, yet the tools used to protect them aren’t purpose-built for the job. The expansion into SaaS applications opens a huge market opportunity for Onapsis and fills a much-needed gap for enterprises in the cybersecurity and compliance space.”
In the meantime, Onapsis plans to take care of its team to maintain this momentum, starting with an extra week of vacation in January in order to “recharge going into 2021,” a company spokesperson told Built In.
“I truly recognize the ongoing personal impact of the pandemic on you and your families. Quarantine and travel restrictions have likely made it difficult to use vacation time to enjoy with your family and friends, and there is a mental health cost to operate at high-performance in this context for so long,” Nunez wrote in an company-wide email shared with Built In. “With the holiday season quickly approaching and many of you making plans, we have decided to close all of our global offices and operations the week of January 4–8 to ensure all Onas have downtime to recharge, and take care of yourselves and your loved ones before we kick off 2021.”
Then, starting in 2021 Onapsis plans to “aggressively” start hiring across its engineering, product, sales and marketing teams.