Onit Raises $4.1M in Series B Funding

Published On January 17, 2012 |

Onit, a Houston, TX-based provider of business productivity and process management apps, has raised $4.1m in Series B funding.

The round was led by Austin Ventures, with participation from Houston-based incubator RedHouse Associates.

The company intends to use the funding to develop a sales and channel strategy, expand outside the legal vertical, build out its App Builder – a self-service tool for end users to create their own Onit Apps – and hire people in Engineering, Sales and Marketing.

In conjunction with the funding, John Thornton, General Partner of Austin Ventures will join Doug Erwin, RedHouse Chairman and Principal, and Eric Elfman on Onit’s Board of Directors.
Erwin will serve as the Chairman of the Board.

Launched in early 2010 by legal software industry experts CEO Eric M. Elfman and Eric A. Smith, Onit deploys apps designed to simplify business process automation and improve business productivity across all departments and industries.

FinSMEs

17/01/2012

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