With the investment, Onit will scale operations to meet increasing client demand for innovative, market-leading process automation technology and enhance its scalable platform. Additionally, the investment will help fund go-to-market strategies, accelerate new product development and enhance functionality of existing product offerings.
“We are very excited to partner with K1 and their significant investment in our company further demonstrates the accelerating growth trajectory for Onit. We believe that we are clearly proving that our approach to streamlining business process – creating better workflows and not better databases – fundamentally sets us apart in the industry,” commented Eric M. Elfman, CEO and founder. “We have the only end-to-end platform that solves workflow and process challenges across the enterprise. In fact, we have configured and deployed more than 200 solutions and are instrumental in driving process transformation with some of the most innovative global companies in the world. As we scale to meet increasing demand, we are excited to also accelerate our investment in product development, human resources and operations.”
Marks Baughan Securities served as exclusive financial adviser to Onit on this transaction.
