Onit Recognized for Rapid Revenue Growth By the Houston Business Journal
HOUSTON, June 09, 2021 (GLOBE NEWSWIRE) -- Onit, Inc., a leading provider of enterprise workflow and artificial intelligence platforms and solutions, including enterprise legal management, contract lifecycle management and business process automation, today announced that it ranked #4 on the Houston Business Journal’s Middle Market 50 list with two-year revenue growth of 162.78%. This marks the second consecutive year that Onit has ranked in the top five on the list.
The Houston Business Journal’s Middle Market 50 Awards honor the fastest-growing for-profit public and private companies in Houston with annual revenue of $28 million to $1 billion. The rankings are based on revenue growth from 2018 to 2020.
“From our inception, Onit has focused on rapid growth through innovation and disruption. That has never changed, even when navigating the challenges presented by the pandemic. In 2020, we added 93 new corporate customers, 330 expansions for existing customers, 22% more employees and two acquisitions, and we are continuing to grow on all fronts in 2021,” said Eric M. Elfman, CEO and co-founder of Onit. “We appreciate this recognition from the Houston Business Journal.”
Onit works with more than one-third of the Fortune 100 companies and processed $5.6 billion in law firm invoices from more than 140 countries in 2020.
During this past year, Onit has dbuted four AI offerings for its contract lifecycle management and enterprise legal management, acquired AI legal technology provider McCarthyFinch and the document generation company AXDRAFT and won a listing on the Inc. 5000 for the fifth consecutive year with a three-year growth of 641%.