A Pillsbury team led by Austin Corporate partner Steve Tyndall advised Onit Inc. in its $200 million investment from K1 Investment Management. Onit, a leading provider of enterprise workflow solutions, says the investment will help the company scale operations to meet increasing client demand for innovative, market-leading process automation technology and enhance its scalable platform. The investment also will fund go-to-market strategies, accelerate new product development and enhance the 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,” said CEO and founder Eric M. Elfman. “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.”
In addition to Tyndall, the Pillsbury team advising Onit in the transaction includes Intellectual Property partner Ed Cavazos, Tax partner Nora Burke and associates Alyssa Fiedler, Jeb Byrne, Hannah Hollingsworth, Justin Krawitz and Andrew Lauria.