Onit Focus on Strategic Growth and Industry Commitment Earns Important Milestones for 2012

HOUSTON, TX — (MARKETWIRE) — 01/28/13 — Onit, a leading provider of business productivity and process management Apps, today announced that it has achieved significant milestones in 2012 that have propelled the company’s strategic growth and vision for 2013. These milestones include new funding, product releases, and customers.

“Since we started Onit in 2010, we have been focused on providing Apps that expedite and streamline day-to-day operational activities and the market has responded positively to our mission, vision and product offerings,” said Eric M. Elfman, co-founder and CEO of Onit. “We will continue our upwards momentum and progress in 2013.”

Growth/Financial Milestones

A series of significant financial and growth milestones have spurred Onit’s success in 2012. These included the:

• Attainment of $4.1 million in Series B funding led by Austin Ventures and announced in January 2012. With this funding, the company accelerated product innovation and expanded its line of business productivity and process Apps.
• Addition of multiple new clients in 2012, including Fortune 500 and a mix of mid- and small-sized organizations in industries ranging from real estate to communications and retail.
• Adoption and usage of Onit Apps in more than 60 countries around the world.

New Products

Throughout 2012, the company continued its focus on providing new, powerful Apps to help manage processes and drive productivity. New product releases included:

• Onit App Builder, a process automation platform that combines business process management, collaboration and project management functionality into one innovative SaaS tool. Onit App Builder allows business users to easily develop and deploy Apps to facilitate continuous improvement of critical business processes.
• Legal and Governance, Risk & Compliance Apps designed to streamline operations, automate processes, control costs and help reduce company risk.

Commitment to Legal Industry

Onit underscored its commitment to the legal industry in 2012 with the launch of the Legal Department Operations Roundtable, a forum that highlights emerging trends, best practices and actionable insight to the Law Department Operations community. The forum, which offers peer networking, access to best practices, seminars, and webinars, focuses on timely issues such as outside counsel management, budgeting, e-discovery, metrics and reporting and alternative fee arrangements. The Legal Department Operations Roundtable held its first event in September at the headquarters of CDW in Vernon Hills, IL and included presentations from some of the leading visionaries involved in law department operations.

The roundtable’s next event, centered on Trends in Process Management, was held on January 24th in Houston and featured Harvard Business Review contributor, consultant, and business process expert Brad Power. Events will continue throughout 2013 with visits scheduled for New York City, Los Angeles, Dallas, Atlanta and Chicago.

Onit leaders also lead valuable discussions at several prestigious conferences, including the Texas Lawyer’s In-House Counsel Summit, the 34th Annual Corporate Counsel Institute and the Managing Litigation Forum 2012.

About Onit

Onit was formed by legal software industry experts Eric M. Elfman and Eric A. Smith, co-founders of Datacert, a leading provider of enterprise spend management software. Launched in early 2010, Onit deploys Onit Apps to simplify business process automation and improve business productivity across all departments and industries. The Onit App Builder allows business users to drive efficiency and productivity by combining business process management, project management, and information management into one easy to use tool so the user can create their own Onit Apps without having to rely on IT for support.

Businesses have processes for everything — whether it’s hiring a vendor or law firm, terminating an employee, submitting a contract for review, requesting a trademark request, obtaining an NDA, etc. Most of these processes are manual, paper intensive and cumbersome. With Onit Apps, processes are automated in a few clicks, responsible parties are notified immediately, and data collection is centralized. Onit doesn’t require any software to download or resources from IT. For more information, visit www.onit.com or contact 1-800-281-1330.