Onit Bolsters Legal Tech Capabilities with McCarthyFinch Acquisition
Houston-based workflow automation leader Onit has strategically acquired McCarthyFinch, an innovative AI-powered legal tech startup that previously showcased at TechCrunch Disrupt Battlefield 2018. This move significantly enhances Onit’s legal workflow solutions with cutting-edge artificial intelligence capabilities.
Why This Acquisition Matters
- AI Integration: McCarthyFinch’s advanced AI technology will be integrated into Onit’s flagship Aptitude workflow platform
- Strategic Fit: After evaluating over a dozen AI companies, Onit identified McCarthyFinch as having superior technology and team
- Market Expansion: Combines Onit’s established workflow automation with next-gen AI for legal professionals
The Decision-Making Process
Eric M. Elfman, Onit’s CEO and co-founder, explained their rigorous selection criteria:
“We evaluated about a dozen companies in the AI space and dug in deep on six of them. McCarthyFinch stood out from the pack with the strongest technology and team.”
Nick Whitehouse, McCarthyFinch CEO and co-founder, initially considered partnership opportunities before recognizing the acquisition’s strategic value:
“As we talked, all egos aside, it just made sense to move to acquisition talks. The synergy between our AI platform and Onit’s workflow automation was undeniable.”
Key Acquisition Details
- Deal Timeline: Negotiations accelerated in May 2020, closing officially last week
- Virtual Process: All discussions occurred via Zoom between Houston and New Zealand teams
- Post-Acquisition Plan: McCarthyFinch will maintain its New Zealand operations
- Company Metrics: McCarthyFinch had 45 customers, 17 employees, and $5M in funding pre-acquisition
The TechCrunch Disrupt Legacy
Whitehouse credits the startup’s 2018 TechCrunch Disrupt appearance as transformative:
“The insights and coaching we received through Battlefield have stuck with me and will continue to influence me throughout my career.”
This acquisition represents a significant milestone in legal technology, combining established workflow automation with innovative AI solutions to streamline legal operations worldwide.
