Missoula tech company onX lands record $87 million in venture capital

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A Missoula, onX, technology company announced Monday that it has landed an $87.4 million Series B venture capital investment. It appears to be the largest venture capital investment ever made in Montana history.

According to a company press release, 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 investors. existing.

Founded in Missoula in 2009, onX developed an app that allows users to download topographic maps with other layers before heading out into the backcountry. Then, even when they’re out of cell range, they can see land ownership and other layers relative to where they are.

The company has also developed several other products, but its navigation applications include onX Hunt, onX Offroad and onX Backcountry.

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The apps give users the ability to view 852 million acres of public land, 550,000 miles of motorized trails, 10,000 detailed hikes and routes, 60,000 campgrounds and cabins, and hundreds of layers.

“The outdoor industry is booming, and onX fills a critical need for adventurers,” said Steve Burke, founding partner of Madison Valley Partners and former CEO of NBCUniversal. “I’ve seen the company establish leadership in the hunting and outdoor industries by designing amazing customer experiences that connect people to the land. I can’t wait to see onX continue to work to define the future. of mapping technology and how recreation enthusiasts of all types engage with this landscape.”

The company says it has grown its staff 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 recreation enthusiasts to explore new landscapes and unite them to protect access to our natural world,” said Laura Orvidas, CEO of onX. “It is this combination that fuels the impressive attraction of our customers. This investment allows us to expand our offerings even further and continue to change the way outdoor enthusiasts experience the world around them.”

Another Missoula company held the previous state record for venture capital investment.

Submittable, a software company that caters to nonprofits, governments, and enterprises, announced earlier this year that it had raised $47 million in Series C funding.

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