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%.