Onit, Inc., a Houston, TX-based provider of enterprise workflow solutions including enterprise legal management, contract management and business process automation, secured an investment of $200m.
K1 Investment Management made the investment.
The company intends to use the funds to scale operations, go-to-market strategies, accelerate new product development and enhance functionality of existing product offerings.
Led by Eric M. Elfman, CEO and founder, Onit provides enterprise workflow solutions for legal, compliance, sales, IT, HR and finance departments. The company’s platform supports an unlimited number of solutions, from enterprise legal management (ELM) to department-specific (e.g. legal spend management, legal holds, e-billing, legal service requests, NDAs, matter management) to shared solutions common throughout all industries (e.g. contract management, SOX compliance, employee onboarding, whistleblower, budgeting). The platform scales to support thousands of users and millions of documents.
Companies using the company’s technology span a variety of industries.