onX announced on Monday that it has raised $87.4 million in Series B. According to a company press release, the funding round was led by Summit Partners, which led Series A in 2018 with input from Madison Valley Partners and other existing investors.
onX, founded in 2009, develops applications that allow users to download topographic maps with different layers. Such maps allow, even when users are offline, to navigate and search for POI.
The company has developed several products, its top navigation apps being onX Hunt, onX Offroad and onX Backcountry. The apps give users the ability to view 852 million acres of public land, 550,000 miles of roads, 10,000 detailed hiking trails, 60,000 campsites and lodges.
“The outdoors industry is booming and onX is meeting a pressing need for adventure seekers,” said Steve Burke, founding partner of Madison Valley Partners and former CEO of NBCUniversal. “I have watched the company solidify its leadership in the hunting and outdoor industry by developing amazing customer experiences that connect people to the land. I look forward to seeing onX continue to define the future of mapping technology and how people enjoy outdoor recreation.”
The company says it has increased its workforce by more than 300% since 2018, when it raised a Series A funding round.
“What sets onX apart is our ability to create products that allow outdoor enthusiasts to explore new landscapes and bring them together in access to our natural environment,” said onX CEO Laura Orvidas. “It is this combination that is driving our impressive growth. This investment allows us to further expand our offerings and continue to change how outdoor enthusiasts perceive the world around them.”
“OnX’s $87.4 million development investment marks a new high point for the Montana tech community and a huge economic boost for the company, which has already created hundreds of jobs in Missoula, Bozeman and beyond,” said Christina Quick Henderson, CEO Montana High Tech Alliance. “OnX is a quintessential Montana success story – a tech startup created to share the passion of one nature hunter who thrives not in spite of but because of their Montana roots.”
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