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§ Private Profile · Houston, TX, USA
Onit is a technology company.
Onit delivers AI-native legal operations solutions, transforming how legal and compliance departments manage their workflows. The company provides a unified platform encompassing enterprise legal management, contract lifecycle management, intake, and workflow automation, alongside AI agents. Its technology is designed to simplify complex legal processes, accelerate decision-making, and empower legal teams with greater control through a flexible framework that adapts to their operational needs.
The company was founded in 2009 by Eric Elfman and Jill Black. Their foundational insight stemmed from the observation that existing legal software was often rigid and system-centric, rather than user-focused. This led Onit to develop solutions with configurable workflows and enterprise legal management, aiming to provide legal professionals with more intuitive and adaptable tools that place users firmly in control of their processes.
Onit serves a global clientele, including large enterprises and fast-growing organizations seeking to optimize their legal functions. The company envisions a future where legal operations are driven by AI-native and AI-first technology, leveraging intelligent agents to enhance efficiency and effectiveness. Onit remains committed to empowering legal departments with the flexibility and technology necessary to strategically influence the broader business landscape.
Onit has raised $230.3M across 5 funding rounds.
Onit has raised $230.3M in total across 5 funding rounds.
Onit has raised $230.3M across 5 funding rounds. Most recently, it raised $200.0M Other Equity in January 2019.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jan 9, 2019 | $200M Venture Round | Neil Malik | — | Announced |
| Jun 26, 2018 | $10M Debt Financing | Weston Rice | — | Announced |
| Oct 27, 2016 | $8.3M Venture Round | Sarah Sommer | Austin Ventures, Texas Halo Fund | Announced |
| Oct 1, 2016 | $8M Series U | — | Elsewhere Partners, IVP, Shasta Ventures | Announced |
| Jan 1, 2012 | $4M Series B | John Thornton | Elsewhere Partners, IVP, Shasta Ventures, Doug Erwin | Announced |
Onit has raised $230.3M in total across 5 funding rounds.
Onit's investors include Neil Malik, Weston Rice, Sarah Sommer, Austin Ventures, Texas Halo Fund, Elsewhere Partners, IVP, Shasta Ventures, JOHN THORNTON, Doug Erwin.
Onit is a global leader in AI-enabled workflow automation solutions, primarily serving legal, compliance, sales, IT, HR, and finance departments within Fortune 500 companies and large corporate legal teams.[1][2][5] Its flagship product, Unity, is an AI-native Enterprise Legal Management (ELM) platform that unifies spend management, matter tracking, vendor oversight, invoices, and contracts into a single system, solving inefficiencies in legal operations by automating workflows, reducing costs, and providing real-time insights.[4][5] Onit addresses pain points like manual contract review, budget tracking, and compliance through tools like ReviewAI, which uses generative AI to draft, review, redline, and edit contracts in minutes, driving operational efficiencies and faster transaction automation.[1][5]
The company demonstrates strong growth momentum, with over 3,000 customers including Instacart, which reported 10% savings in legal spending via Onit's SimpleLegal platform, and ongoing AI innovations like enhanced ReviewAI launched in 2024, positioning it ahead in legal tech.[1][5]
Onit has pioneered AI for legal workflows for over eight years, with early innovations like software emulating legal reasoning that evolved into standalone products powered by generative AI and large language models.[1] While specific founders are not detailed in available sources, the company's roots trace to deep expertise in legal tech, building an AI-native foundation to bridge systems of record (e.g., finance tools) and systems of engagement (e.g., contracts and matters).[1][5] Pivotal moments include years of AI investment leading to ReviewAI's major enhancements in September 2024, marking the first of several AI releases and solidifying its leadership amid the generative AI boom.[1]
This trajectory humanizes Onit as a company built by legal tech experts—like VP Jean Yang of the AI Center of Excellence—who transformed niche legal reasoning tools into enterprise-scale solutions for global operations.[1]
Onit's strengths lie in its AI-first approach tailored for legal operations, distinguishing it from generic automation tools:
These features create a comprehensive ELM ecosystem, emphasizing speed, precision, and scalability for high-stakes legal environments.[1][2][5]
Onit rides the AI transformation in legal tech, capitalizing on generative AI's rise to automate complex, reasoning-heavy tasks traditionally done manually by lawyers, amid market forces like rising compliance demands, cost pressures on corporate legal departments, and the shift to agentic AI.[1][5] Timing is ideal post-2023 AI hype, with Onit's multi-year head start enabling tools like ReviewAI to outperform newcomers, while broader trends—such as SaaS scaling, M&A activity, and IPO preparations—amplify demand for unified legal ops platforms.[4]
By serving Fortune 500 firms, Onit influences the ecosystem through efficiency benchmarks, fostering legal-finance partnerships and setting standards for AI-driven ELM that reduce friction in tech-driven businesses.[1][5]
Onit is poised to expand its AI portfolio with more ReviewAI-like releases, deepening Unity's agentic capabilities for predictive analytics, autonomous contract negotiation, and cross-departmental automation.[1][5] Trends like multimodal AI, regulatory AI (e.g., for compliance), and embedded legal ops in enterprise SaaS will shape its path, potentially capturing larger shares as legal spend grows with global tech expansion. Its influence may evolve from legal specialist to core enterprise AI provider, turning legal teams into strategic drivers—echoing its opening promise as the ELM solution ops teams have awaited.[5]