Investment to support the company’s continued growth and further its commitment to public lands
onX, a pioneer in outdoor digital navigation, today announced a $87.4M Series B investment. The funding round was led by Summit Partners, which led the company’s Series A financing 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 reimagines the outdoor experience and works to protect the landscapes that host recreational pursuits.
Founded in 2009 and based in Missoula, Montana, onX creates mapping and navigation technology that helps inform, inspire, and empower millions of outdoor recreationists. The company’s suite of navigation apps 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 layers, and more at users’ fingertips.
“The outdoor industry is thriving, and onX is meeting an essential need for adventurers,” said Steve Burke, Madison Valley Partners founding partner and former NBCUniversal CEO. “I have been an onX customer for years. I have watched the company establish its leadership in the hunting and outdoor industries by designing amazing customer experiences that connect people with the land. I’m looking forward to seeing onX continue working towards defining the future of mapping technology and how recreationalists of all types engage on that landscape.”
Since raising a Series A in 2018, the company’s growth has accelerated. Over the course of the last four years, onX has increased annual recurring revenues 10x while growing its team by more than 300% – including a nearly five-fold increase in its engineering bench – to support continued expansion and enhancement of its 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 onX updates include CarPlay and Android Auto functionality, critical safety information such as wildfire and avalanche layers, and a popular series of Masterclasses that share tips for making the most of a day outdoors and building outdoor communities.