Category: Company News and Events

The 2021 IT World Awards have honored Onit with Globees for our business continuity suite of Apps and legal community support during the pandemic. As the IT industry’s premier excellence awards program, the IT World Awards honor achievements in every facet of the information technology industry and recognize technology companies with advanced, ground-breaking products, solutions and services.

An Online Legal Community Devoted to Connecting Peers

First, Onit won the Gold Globee Award for Company Response of the Year in the category of “Creative Ways Companies are Giving Back During COVID-19.”

In March of 2020, we introduced a comprehensive thought leadership initiative, Lean Into LegalOps. The program’s original goal was to connect in-house legal professionals to share best practices during the pandemic via masterclasses, webinars, small virtual gatherings and more. Lean Into LegalOps had more than 3,000 registrations in 2020 alone and has now expanded into a vibrant offering the includes Europe and shared wisdom from Fortune 500 legal operations leaders (examples of past programs can be found here and here.)

Corporate legal professionals are welcome to join the complimentary program and can sign up here for the U.S. and here for Europe.

A Free Suite of Business Continuity Apps

Next, we earned the Bronze Globee Award for Best Technology in the category of “To Combat and Reduce the Impact of COVID-19.”

In response to the pandemic and the challenges it presented for corporations, Onit offered a free suite of COVID-19 business continuity and workflow solutions built on its automation platform Apptitude. These Apps were intended to help companies navigate new challenges such as managing a remote workforce. They included:

• The Return-to-Work Risk Assessment App, which surveys employees regarding risk factors for COVID-19 transmission and allows human resources and management to determine return-to-work dates and protocol.
• The Contract Compliance Issue Tracking App, that provides a mechanism for companies to log and manage issues reported by external parties, such as force majeure clauses, that impact the ability to deliver on a contract.
• The Work Delegation App, which collected and reported information from employees having to unexpectedly leave work due to illness, lack of childcare or other personal issues.
• The Business Standup/Situation Reporting App, that enables managers and leadership to quickly establish a framework for offsite team communications, including managing agendas and aggregating updates for management reporting.
• The COVID-19 Self Reporting App, which empowered employees to self-report when they have experienced symptoms or been diagnosed with COVID-19.

An Award-Winning Year

Onit is honored to add these Globee awards to our growing list of awards this year, which include:

• Joining Inc.’s list of the Top 250 Fastest-Growing Private Companies in Texas at #44.
• Ranking #4 on the Houston Business Journal’s Middle Market 50 list
• Being named to the Forbes America’s Best Startup Employers
• Landing #78 on the Austin Business Journal’s List of Tech Employers
• Named as a finalist, along with customer BT, for the Legalweek Leaders in Tech Law Awards

For more information about Onit, its platforms Apptitude and Precedent, its business continuity Apps and its solutions (including enterprise legal management and contract lifecycle management), schedule a demo here or email [email protected].

For the second year in a row, the Houston Business Journal has ranked Onit in the top five of its Middle Market 50 awards. The award recognizes 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.

This year, Onit ranked number four on the list, with two-year revenue growth of 162.78%. Last year, the company claimed spot number three, with two-year revenue growth of 271.51%.

As Onit’s CEO and co-founder Eric M. Elfman explains: “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.”

During this past year, Onit has debuted four AI offerings for its contract lifecycle management and enterprise legal management including its AI platform Precedent, ReviewAI, ExtractAI and InvoiceAI. It also 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%.

To learn more about Onit’s platforms and products, schedule a demo online or via email at [email protected].

What a decade it’s been for Onit and legal tech. We’re celebrating our 10th anniversary with several significant milestones over a decade of groundbreaking achievements in legal technology.

Onit was co-founded in 2011 by CEO Eric M. Elfman, COO Eric Smith, Vice President of Marketing Jill Black and Vice President of Products John Gilman. Their goal: to create legal tech that makes it easier for in-house counsel to practice law.

Today, Onit has more than 400 employees worldwide and 10,550 corporate legal and law firm customers and offers workflow automation, enterprise legal management, AI, contract lifecycle management and more. Going forward, we plan to continue our strategic growth and expand our offerings to give corporate legal departments even more of the legal tech tools they need to do their best work.

Reinventing Legal Tech

Onit was originally co-founded in 2011 with a focus on legal project management. However, the focus shifted when Elfman and his co-founders brainstormed ideas and made a discovery: Despite half a trillion dollars spent every year in enterprise software, very little of it moved the needle in terms of productivity for end-users. Instead, most workers managed their day through email, which didn’t always work for complex organizations and projects.

Onit’s first platform, Apptitude, solved 95% of the workflow challenges presented by the email-based environment. The company started by creating legal tech on Apptitude for the same solution that Elfman’s first company Datacert addressed – enterprise legal management (ELM), an area that was ripe for disruption.

From Startup to Scale-Up

Onit has gone from two employees and $25,000 in revenue when co-founded to a company with more than 400 employees in 2021. We have helped transform how Fortune 500 companies and billion-dollar legal departments drive operational improvements, processing over $5 billion in legal invoices in the past year alone.

The company’s leadership sees Onit as a scale-up now, a company that will continue to grow in reach and revenue while still committed to the disruption and innovation of its startup roots.

Despite the pandemic, we continue to be one of the fastest-growing tech companies in the Houston area. While others resorted to layoffs, we increased our headcount by 22% and grew revenue by 36% in 2020.

Onit and our customers have used our platforms and products to build over 5,600 Apps and solutions that automate critical enterprise-wide processes such as marketing, sales, HR and compliance. We also launched three new AI-based products in the last year (Precedent, ReviewAI and ExtractAI) and acquired three companies since May 2019 – legal operations software provider SimpleLegal, legal tech AI provider McCarthyFinch and AXDRAFT, a document generation and automation platform.

Looking Ahead for Onit and Legal Tech

As we enter the next decade in the legal tech market, we will continue to grow and innovate. And we will keep disrupting the market. As our CEO says, “We’re not slowing down.”

Contact Onit today to learn more about how our workflow and artificial intelligence platforms and solutions can help you transform your business.