Investment to support the company’s continued growth and further its commitment to public lands
onX, a pioneer in outdoor digital navigation, today announced an $87.4 million Series B investment. The funding round was led by Summit Partners, which led the company’s Series A funding in 2018, and includes participation from Steve Burke’s Madison Valley Partners and other existing investors. This growth investment will support onX as the company reinvents the outdoor experience and works to protect landscapes that are home to recreational activities.
Founded in 2009 and headquartered in Missoula, Montana, onX creates mapping and navigation technology that helps inform, inspire and empower millions of outdoor recreationists. The company’s navigation suite includes three products: onX Hunt, onX Offroad, and onX Backcountry, each tailored to the adventure at hand. The apps put 852 million acres of public land, 550,000 miles of motorized trails, 10,000 detailed hikes and routes, 60,000 campgrounds and cabins, hundreds of capes and more at users’ fingertips.
“The outdoor industry is thriving and onX is filling a critical need for adventurers,” said Steve Burke, founding partner of Madison Valley Partners and former CEO of NBCUniversal. “I have been an onX customer for years. I’ve seen the company establish its leadership in the hunting and outdoor industries by designing incredible customer experiences that connect people to the land. I look forward to seeing onX continue to work to define the future of mapping technology and how re-enactors of all kinds engage with that landscape.”
Since raising a Series A in 2018, the company’s growth has accelerated. Over the past four years, onX has grown 10x annual recurring revenue and has grown its team by more than 300%, including a nearly five-fold increase in its engineering bench, to support the continued expansion and improvement of your product offering. The company also acquired Outdoor Project and the Adventure Project suite of products (Mountain Project, Hiking Project, MTB Project, Powder Project, Trail Run Project, and National Park Trail Guide). Recent updates to onX include CarPlay and Android Auto functionality, critical safety information such as wildfire and avalanche layers, and a popular series of Masterclasses sharing tips for making the most of a day outdoors and building outdoor communities. .
“What sets onX apart is our ability to create products that enable recreationists to explore new landscapes and bring them together to protect access to our natural world,” said Laura Orvidas, CEO of onX. “It is this combination that drives our impressive customer traction. This investment positions us to further expand our offerings and continue to change the way outdoor enthusiasts experience the world around them.”
By connecting adventurers to the landscape and using its platform to share responsible recreation practices, onX hopes to awaken the adventurer in all of us and inspire users to help protect the outdoors for future generations.
onX has committed a percentage of its app sales to increase access to 150,000 acres of public land and to help build or restore 150 miles of trails by the end of 2023. To reach this goal, onX offers grants to organizations that help preserve and create access to outdoor adventures. The company also lends its research and data analysis to support key legislation and brings together diverse perspectives to find creative solutions to protect our shared spaces. onX recently hosted the Shared Ground Symposium, an industry-first alliance of diverse outdoor recreation and land management groups. The meeting spawned three unique stewardship projects that onX will help carry out.
“When onX was founded, it changed the way many outdoor men and women navigate in the wild, and the company hasn’t slowed down,” said Colin Mistele, CEO of Summit Partners and onX board member. “We are proud to work alongside the onX team over the past four years as the company has grown from a single product to a true platform business with an impressive subscription base of outdoor enthusiastic consumers in numerous recreational markets. With a data-driven approach and a true connection to the community, we believe that onX is well positioned to continue reinventing the outdoor experience through its innovative navigation apps.”
About onX
Founded in 2009, onX is a pioneer in outdoor digital navigation and develops software that helps inform, inspire and empower outdoor recreationists. onX Hunt, onX Offroad and onX Backcountry make up the company’s suite of apps, built by explorers for explorers. Because off-the-beaten-track experiences are at the heart of what onX does, the company also leads initiatives to protect and expand access to public lands and promote stewardship opportunities. Learn more at www.onxmaps.com/about
About Summit Partners
Summit Partners, founded in 1984, is a global alternative investment firm that currently manages more than $35 billion in capital dedicated to growth capital, fixed income and public equity opportunities. Summit invests in growth sectors of the economy and has invested in more than 550 companies in technology, healthcare and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, visit www.summitpartners.com or follow us on LinkedIn