When was Onit founded?

Onit was founded in 2007 and raised its 1st funding round 3 years after it was founded.

Where is Onit located?

Onit is headquartered in Houston, United States.

How many employees does Onit have?

As of Apr 30, 2026, the latest employee count at Onit is 519.

Is Onit a funded company?

Onit is a funded company, having raised a total of $215M across 7 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Feb 01, 2010.

When was the latest funding round of Onit?

Onit's latest funding was a $***** Series D round on Jan 08, 2019, with participation from 1 investor.

Where does Onit rank among its competitors?

Onit ranks 2nd amongst 139 active competitors, of which 17 are funded. It stands 1st in terms of total funding among its competitors. The most recent competitor to raise funding was Newcode.ai, which secured $6.5M in Mar, 2026.

Who are the top competitors of Onit?

Onit's top competitors include LexisNexis, Streamline and Ruli AI. Among them, Newcode.ai secured the most recent funding round in March, 2026.

Onit - 2026 Company Profile, Team, Funding & Competitors

Company Details

Provider of legal operations software specializing in enterprise legal management solutions. The software unifies spend, matters, vendors, and contracts into one system. It offers contract lifecycle management, legal operations workflow automation, and sales and revenue compliance. The platform provides tools for document management, spend optimization, and vendor evaluation. It also features a no-code app studio for tailored automations.

Website: onit.com
Social
Email ID: *****@onit.com
Phone Number: +1 **********

Key Metrics

Founded Year

2007

Location

Houston, United States

Stage

Acquired

Total Funding

$215M in 7 rounds

Latest Funding Round

Series D, Jan 08, 2019, $*****

Investors

Austin Ventures & 7 more

Ranked

2^nd among 139 active competitors

Employee Count

519 as on Apr 30, 2026

Investment & Acquisitions

Legal Files Software & 6 more

Similar Companies

LexisNexis & 158 more

Exit Details

Acquired by Seven Seven Six (Jun 22, 2026)

View Onit's full profile

Onit is associated with 2 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
ONIT INDIA PRIVATE LIMITED CIN: U72200PN2015FTC155006 , India, Active	May 14, 2015	₹50 - ₹100 Cr (As on Mar 31, 2025)	256 (As on Aug 01, 2025)
ONIT, INC. CIN: 264355733 , United States, Active	Dec 21, 2010	-	24 (As on Dec 31, 2015)	-

Onit got acquired by Seven Seven Six on Jun 22, 2026.

Click here to take a look at Onit's acquisition in detail

Onit has raised a total funding of $215M over 7 rounds. Its first funding round was on Feb 01, 2010. Its latest funding round was a Series D round on Jan 08, 2019 for $*****. 1 investor participated in its latest round. Onit has 8 institutional investors.

Here is the list of recent funding rounds of Onit:

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Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Jan 08, 2019	5750144	Series D	9070546	9672720	2992271	8406292
Jun 26, 2018	6706292	Venture Debt	9755004	5968993	8655048	SVB
Oct 24, 2016	2066485	Series C	8127396	5712476	Level Equity	Austin Ventures & 1 more

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View details of Onit's funding rounds and investors

The founders of Onit are Eric Elfman and Jill Black. Michael Farlekas is the CEO of Onit.

Here are the details of Onit's key team members:

Eric Elfman: Co-Founder of Onit.
Contact Info: 1 email address
Jill Black: Co-Founder of Onit.
Michael Farlekas: CEO of Onit.

View details of Onit's Founder profiles and Board Members

Onit's employee count trend

Onit has 519 employees as of Apr 26. Here is Onit's employee count trend over the years:

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Top competitors of Onit include LexisNexis, Streamline and Ruli AI. Here is the list of Top 10 competitors of Onit, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	LexisNexis 1970, Miamisburg (United States), Funding Raised	Provider of legal solutions, news, business insights, and risk management	-	Spectrum Equity, East Peak Capital & 3 others	73/100
2nd	Onit 2007, Houston (United States), Acquired	Provider of legal operations software specializing in enterprise legal management solutions	$215M	Elsewhere Partners, SVB & 6 others	64/100
3rd	Streamline 2020, San Francisco (United States), Series A	Platform offering legal workflow automation software	$14M	Blumberg Capital, Oceans & 8 others	59/100
4th	Ruli AI 2024, Austin (United States), Seed	Provider of AI-powered legal solutions	$8.2M	SignalFire, Album VC & 6 others	58/100
5th	LawPro.ai 2023, Los Angeles (United States), Seed	AI powered legal workflow automation platform	-	Scopus Ventures, LegalTech	46/100
6th	LitiGate 2018, Tel Aviv (Israel), Seed	Cloud & AI-based legal workflow automation management solution provider	$6.5M	TheTime, Brighteye Ventures & 4 others	42/100
7th	Josef 2017, Melbourne (Australia), Seed	Platform offering legal workflow automation software	$8.7M	Carthona Capital, LegalTech & 8 others	42/100
8th	Newcode.ai 2021, Oslo (Norway), Seed	AI powered legal workflow automation platform	$6.5M	LegalTech, Alliance Venture	40/100
9th	Nyaay 2022, Lucknow (India), Unfunded	AI powered legal workflow automation platform	-	-	40/100
10th	Flare 2020, Encinitas (United States), Seed	Tech enabled legal workflow automation services	-	Good Friends, Verissimo Ventures & 4 others	39/100

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Onit has not made any investments yet. Onit has made 7 acquisitions.

Here is the list of latest three $acquisitions:

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Date of Investment/Acquisition	Type	Company Name	Founded Year	Location
Jan 28, 2025	Acquisition	Legal Files Software	1990	Springfield (United States)
Jan 11, 2022	Acquisition	SecureDocs	2012	Santa Barbara (United States)
Sep 28, 2021	Acquisition	BusyLamp	2012	Frankfurt (Germany)