Onit, Inc., a Houston, TX-based provider of Enterprise Legal Management (ELM) platform, raised a $8.25m round of financing.
The round was led by Level Equity Management, LLC, with participation from Austin Ventures, The Texas Halo Fund and angel investors. In conjunction with the funding, Sarah Sommer, founder and partner of Level Equity, joined Onit’s Board of Directors.
The company intends to use the funds for further development of its software offering and to make strategic hires across the company.
Led by Eric M. Elfman, CEO and founder, and Cole Morgan, Vice President of Enterprise Legal Management (ELM), Onit provides Enterprise Legal Management (ELM) solutions which integrate workflow and collaboration to enable legal departments to automate their processes, accelerate transaction velocity and reduce costs.