Built by acquisition into an enterprise legal-ops portfolio
Onit's current product line — Unity ELM, OnitX ELM/CLM, ContractWorks, and its newer AI Studio tools — was assembled through a string of acquisitions, including AXDRAFT for document automation and McCarthyFinch, a New Zealand-based AI company, alongside SecureDocs, BusyLamp, SimpleLegal and Legal Files. That's real breadth for enterprise legal operations: spend management, e-billing and vendor management alongside contract automation, built up since the company's 2007 founding.
In 2026, K1 Investment Management made a $200 million strategic investment in Onit to accelerate its global growth, a genuine capital signal behind that roadmap. HAQQ is a narrower, newer platform and doesn't have a comparable acquisition history or investment round to point to — it's built AI-native from the start rather than assembled from acquired parts.



