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  • onX Closes $20.3 Million Growth Equity Investment

    February 15, 2018

    PRESS RELEASE – onXmaps, Inc., provider of the onX HUNT mobile app and industry leader in mobile mapping technology for outdoor adventurers, today announced it has raised $20.3 million in a funding round led by global growth equity investor Summit Partners. Additional investors include Bessemer Venture Partners, Millennium Technology Value Partners, Next Frontier Capital and Steve Burke (CEO NBCUniversal). This event marks the largest growth equity investment in a mobile and consumer-focused business in Montana’s history.

    The capital will be used to expand the teams at onX’s Missoula and Bozeman, Montana, offices, to continue building all aspects of the company’s mapping solutions, and to assemble the definitive off-pavement mapping data set.

    OnX was founded in 2009 with the promise of providing confidence to always ‘know where you stand’ at the center of its mission. This still rings true today as the company’s flagship product, onX Hunt, helps hundreds of thousands of outdoorspeople successfully navigate public and private lands. Fueled by a deeply held passion for successful outdoor experiences, onX now employs nearly 70 people and plans to continue building its extraordinary team.

    “A growth equity financing of this caliber, by a Montana company, is testament to onX’s vision and resolve to build best-in-class products for customers,” said Jason Mittelstaedt, Founding Partner at Yellowstone Growth Partners and onX Board Member. “It’s been an incredible experience partnering with Eric and the team for the past 2½ years to transform the business into a world-class mobile technology company. The growth of the company, team, technology and brand is amazing. And we believe they are just getting started.”

    Click here for the full press release. Additional coverage: VentureBeat.

     



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