Two-Year Revenue Growth of 273% Earns Onit Recognition as One of the Fastest-Growing Private Companies in Texas
HOUSTON, March 26, 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 Inc. has ranked it #44 on its 2021 Inc. 5000 Regionals list for Texas. The award ranks the top 250 fastest-growing companies in the state.
This marks the second consecutive year Onit has earned this recognition. The company recorded a two-year revenue growth of 273%, which propelled it from #70 in 2020 to #44 in 2021.
“This award for fast growth is significant, given the challenges we faced during 2020 with the pandemic. Being among the 250 fastest-growing companies in Texas further validates our strategy of focusing on our customers and continually fostering innovation,” commented Eric M. Elfman, CEO and co-founder of Onit.
“This list proves the power of companies in Texas no matter the industry,” said Inc. editor-in-chief Scott Omelianuk. “The impressive revenues and growth rates prove the insight and diligence of CEOs and that these businesses are here to stay.”
This recognition is yet another honor for Onit, which won more than 15 awards in 2020, including:
– A listing on the Inc. 5000 for the fifth consecutive year with a ranking of #737 and three-year growth of 641%
– Landing on the Deloitte Fast 500 at #190
– Earning a #9 ranking on the Houston Business Journal Fast 100 list
– Attaining a ranking of a leader in the IDC MarketScape reports for Enterprise Legal Spend Management and Matter Management
– Winning the Association of Corporate Counsel Value Champion award with customer Pearson and partner Morae Global
About the Inc. 5000 Regionals
The 2021 Inc. 5000 Regionals are ranked according to percentage revenue growth when comparing 2017 and 2019. To qualify, companies have to be U.S.-based, privately held, for-profit and independent—not subsidiaries or divisions of other companies. In 2019, the 250 private companies had a median growth of 107%, added $9.5 billion to the Texas economy and almost 18,000 jobs. Complete results of the Inc. 5000 Regionals: Texas can be found at https://www.inc.com/inc5000/regionals/texas.
About Inc. Media
The prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.
Onit is a global leader of workflow and artificial intelligence platforms and solutions for legal, compliance, sales, IT, HR and finance departments. With Onit, companies can transform best practices into smarter workflows, better processes and operational efficiencies. With a focus on enterprise legal management, matter management, spend management, contract lifecycle management and legal holds, the company operates globally and helps transform the way Fortune 500 companies and billion-dollar corporate legal departments bridge the gap between systems of record and systems of engagement. Onit helps customers find gains in efficiency, reduce costs and automate transactions faster. For more information, visit www.onit.com or call 1-800-281-1330.