HOUSTON, January 17, 2012 – Onit, a leading provider of business productivity and process management apps, today announced that it has raised $4.1 million in Series B funding led by Austin Ventures. Also participating in the round are the principals of RedHouse Associates, a leading Houston incubator and consultant that specializes in providing strategic advice and services to entrepreneurs and technology start-up companies. Onit plans to use the funding to accelerate product innovation and expand its line of business productivity and process apps to help companies streamline operations, improve employee productivity and drive customer value.  

For more information:  click here

About Onit

Onit was formed by legal software industry experts Eric M. Elfman and Eric Smith, co-founders of Datacert, a leading provider of enterprise spend management software. Launched in early 2010, Onit Project is a light-weight online project management and business collaboration tool for legal and business professionals. Onit Process, the company’s latest product release, is a game changer for all companies that need to be more efficient, productive and process-driven.  Businesses have process 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. Onit Process simplifies data collection and makes is easy for all employees to request business and legal services. Processes are automated in a few clicks and the responsible party is notified immediately. Onit is a simple, easy-to-use tool that doesn’t require any software to download. For more information, visit www.onit.com or contact 1-800-281-1330.

About RedHouse Associates, LLC 

RedHouse Associates provides strategic advice and services to assist clients in developing business plans, devising product strategies, growing sales organizations, preparing senior management teams for interaction with investors, and advise our on raising capital and strategic exits.  Visit www.RedHouseAssociates.com for more information.

For more information contact: 

Keith Kreuer 

RedHouse Associates

Keith.Kreuer@RedHouseAssociates.com

713-338-2156

Jill Black

Onit

jill.black@onit.com

713-560-9225