MONTANA, MISSOULA, OCT. 4, 2022 — A USD 87.4M Series B investment has been made, according to onX, a pioneer in outdoor digital navigation. Summit Partners also headed the company’s Series A investment in 2018, and this funding round features participation from Steve Burke’s Madison Valley Partners and other current investors. This expansion investment will help OnX as it reimagines the outdoor experience and works to safeguard the environments that enable recreational activities.
OnX, a Missoula, Montana-based company founded in 2009, develops mapping and navigational tools that educate, motivate, and equip millions of outdoor recreationists. Three products from the company’s navigation app lineup—onX Hunt, onX Offroad, and onX Backcountry—are each designed specifically for the action at hand. With these applications, users may access 852 million acres of public land, 550,000 miles of motorized trails, 10,000 comprehensive treks and routes, 60,000 campgrounds and cabins, hundreds of layers, and more.
OnX is filling a crucial need for adventurers, according to Steve Burke, founding partner of Madison Valley Partners and former CEO of NBCUniversal:
“I’ve been a longtime user of onX. I have seen the business grow into a market leader in the hunting and outdoor recreation by creating incredible customer experiences that bind people to the land. I’m interested to see how onX advances the definition of mapping technology’s future and how recreationists of all kinds interact with that terrain.”
The business has experienced an acceleration in growth since raising a Series A in 2018. To support the ongoing development and improvement of its product offering, onX has grown its staff by more than 300% over the past four years, including a roughly five-fold increase in its engineering bench. Annual recurring revenues have also climbed by a factor of 10.
The business also purchased the Adventure Project line of items and Outdoor Project (Mountain Project, Hiking Project, MTB Project, Powder Project, Trail Run Project, and National Park Trail Guide). Recent onX improvements include:
- Support for CarPlay and Android Auto.
- Vital safety data like wildfire and avalanche layers.
- A well-liked Masterclass series offers advice on making the most of a day spent outside and fostering outdoor communities.
By the end of 2023, onX plans to help create or restore 150 miles of trails and increase access to 150,000 acres of public land by allocating a portion of the revenue from its app sales.
onX provides funding to groups that support the preservation and expansion of access to outdoor experiences. The business also contributes its data analysis and research to help essential laws, and it brings together various viewpoints to develop original solutions to safeguard our common areas. The Shared Ground symposium, a first for the industry collaboration of diverse outdoor recreation and land management groups, was recently held at onX. The discussion inspired three different stewardship projects, and onX will assist in making them a reality.
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