About Onit
Onit is a company based in Houston (United States) founded in 2007 by Jill Black, Eric Elfman, and Eric Smith. Onit has raised $215.46 million across 7 funding rounds from investors including SVB, K1 Investment Management and Level Equity. The company has 173 employees as of April 07, 2024. Onit has completed 7 acquisitions, including AxDraft, Bodhala and BusyLamp. Onit operates in a competitive market with competitors including Legl, Josef, KiteRa, Streamline and Tower, among others.
- Headquarter Houston, United States
- Employees 173 as on 07 Apr, 2024
- Founders Jill Black, Eric Elfman, Eric Smith
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Sectors
Professional & Legal Services
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Email
Locked
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Phone
Locked
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Website
Locked
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Social
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- Legal Name Onit India Private Limited
- Date of Incorporation 14 May, 2015
- Jurisdiction Pune, Maharashtra, India
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Annual Revenue
$4.29 M (USD)39.02as on Mar 31, 2023
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Net Profit
$466.41 K (USD)40.49as on Mar 31, 2023
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EBITDA
$786.49 K (USD)31.45as on Mar 31, 2023
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Total Equity Funding
$215.46 M (USD)
in 7 rounds
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Latest Funding Round
$200 M (USD), Series D
Jan 08, 2019
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Investors
SVB
& 5 more
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Employee Count
173
as on Apr 07, 2024
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Investments & Acquisitions
AxDraft
& 6 more
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Funding Insights of Onit
Onit has successfully raised a total of $215.46M across 7 strategic funding rounds. The most recent funding activity was a Series D round of $200 million completed in January 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in Onit
Onit has secured backing from 6 investors, including venture fund and institutional investors. Prominent investors backing the company include SVB, K1 Investment Management and Level Equity.
| Investor | Description | Founded Year | Domain | Location |
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B2B enterprise SaaS investments are managed by K1 Investment Management.
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Middle-market growth capital investments are targeted by Level Equity.
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Venture capital investments in Texas-based companies.
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Investor details for Onit
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Investments & Acquisitions by Onit
Onit has strategically engaged in corporate development activities, having acquired 7 companies. Notable acquisitions include AxDraft, Bodhala and BusyLamp.
Investment portfolio details for Onit
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| Company Name | Description | Domain | Location | Founded Year | Amount |
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Legal contracts are automated end-to-end via AI-powered enterprise software.
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Locked | Locked | 2017 | Locked | |
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Cloud-based document automation solutions are provided for management workflows.
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Locked | Locked | 2016 | Locked | |
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Cloud-based legal spend management software is provided.
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Locked | Locked | 2014 | Locked |
Complete acquisition details for Onit
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Financial Statements - Onit
Detailed financials for Onit
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Onit Comparisons
Peer comparison for Onit
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Competitors of Onit
Onit operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Legl, Josef, KiteRa, Streamline and Tower, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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| Locked | Locked | Locked |
Legal workflows are automated via a cloud-based platform.
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Platform offering legal workflow automation software
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Workflow automation platform is provided for rule creation and management.
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Streamline is recognized for AI-driven supply chain planning software.
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Tower is focused on AI-powered due diligence solutions.
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Detailed competitors of Onit
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Latest news on Onit
Complete news archive for Onit
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Frequently Asked Questions about Onit
Onit was founded in 2007 and raised its 1st funding round 3 years after it was founded.
Onit is headquartered in Houston, United States. It is registered at Houston, Texas, United States.
Michael Farlekas is the current CEO of Onit.
Onit is a funded company, having raised a total of $215.46M across 7 funding rounds to date.
As of Apr 07, 2024, the latest employee count at Onit is 173.
Annual revenue of Onit is $4.29M as on Mar 31, 2023.
Cloud based enterprise legal workflow automation management software provider. It helps business and legal teams streamline operations, control costs, gain visibility into projects and reduce company risk. It allows business users to drive efficiency by combining business process management, project management, and information management tool without having to rely on IT support.
Onit has 6 investors. Key investors include SVB, K1 Investment Management, Level Equity, Austin Ventures, and Texas HALO Fund.