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- onxMaps
onxMaps Funding, Investors & Competitors
onxMaps has raised $195M across 3 funding rounds, most recently a $87M Series B in October 2022.
Last onxMaps funding round
$87M
Series B · Oct 2022
Cumulative funding onxMaps raised
$195M
across 3 funding rounds
Key investors in onxMaps
Summit Partners
Bessemer Venture Partners
NEXT Frontier Capital
Millennium Technology Value Partners
Madison Valley Partners
Stephen Burke
About onxMaps
onXmaps is a Montana-headquartered developer of mobile mapping applications for hunters and off-road recreationists. Launched in 2009, the apps aggregate public land boundaries, trails, and landowner data across the United States. Users receive offline GPS layers customized for activities in remote terrains.
Founded
2009
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Subscription
onxMaps Funding History
onxMaps has raised a total of $195M across 3 funding rounds.
onxMaps' first fundraising round was a $20M Series A in February 2018. The most recent completed round was a $87M Series B in October 2022.
onxMaps funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Oct 2022 | Series B | Summit Partners (lead); Madison Valley Partners | $87M | onX (also referred to as onXmaps) is a Missoula, Montana-based company founded in 2009 that provides digital outdoor navigation and mapping apps tailored for activities like hunting, hiking, off-roading, fishing, and other recreation, featuring property boundaries, public lands data, and GPS functionality to help users stay on permitted paths. The company announced a $87.4 million Series B funding round on October 4, 2022, led by Summit Partners (which previously led a Series A in 2018), with participation from Madison Valley Partners (founded by Steve Burke, former NBCUniversal CEO) and other existing investors. This growth investment aims to support expansion of its platform, product development, team growth, and commitment to public lands conservation, including grants for trail building and land access. Prior to the Series B, onX had demonstrated strong traction with profitable founder-led growth, transitioning from a single hunting product to a multi-vertical platform with a large consumer subscription base. Summit Partners also participated in an earlier $26 million investment in 2018 and a $20.3 million round mentioned in some reports. The company has committed app sales proceeds to conservation efforts, such as accessing 150,000 acres of public land and building 150 miles of trails by end-2023, and hosted initiatives like the Shared Ground symposium for stewardship projects. Later developments include a strategic investment from TCV in 2025 with participation from Summit Partners and others, and a $280 million Series C in 2024 led by Summit Partners at a nearly $1.4 billion valuation, bringing total funding over $380 million. |
| Oct 2021 | Undisclosed stage | Summit Partners (lead) | $87M | onX is a pioneer in outdoor digital navigation founded in 2009 and headquartered in Missoula, Montana. The company creates mapping and navigation technology serving outdoor recreationists through a suite of three activity-specific mobile applications: onX Hunt, onX Offroad, and onX Backcountry. Its platform provides users access to 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 mapping layers, and critical safety information such as wildfire and avalanche data. In October 2021, onX closed a $87.4 million Series B funding round led by Summit Partners, which had also led the company's Series A financing in 2018. The round included participation from Steve Burke's Madison Valley Partners and other existing investors. The capital was intended to support onX's continued growth, expansion into adjacent recreational verticals, and platform scaling. At the time of the Series B, onX had grown its annual recurring revenues tenfold over the preceding four years and expanded its engineering team more than fivefold. Recent product enhancements included CarPlay and Android Auto integration and critical safety features. Summit Partners invested $26 million in the Series A round in 2018 and recruited Laura Orvidas, a former Amazon executive, as CEO as part of a leadership transition strategy. |
| Feb 2018 | Series A | Summit Partners (lead); Stephen Burke; Bessemer Venture Partners; NEXT Frontier Capital; Millennium Technology Value Partners | $20M | onXmaps (also referred to as onX), founded in 2009 and headquartered in Missoula, Montana, provides mobile mapping solutions including the onX HUNT app, helping users navigate property boundaries, stay on permitted paths, and explore outdoors with GPS and layered mapping data. The company bootstrapped to scale before seeking external funding. In February 2018, onXmaps raised $20.3 million in a growth equity round led by Summit Partners, with participation from Bessemer Venture Partners, Millennium Technology Value Partners, Next Frontier Capital, and Steve Burke (CEO NBCUniversal), marking the largest such investment in a Montana mobile and consumer-focused business at the time. The funds were allocated to expand teams in Missoula and Bozeman offices, enhance mapping solutions, and build comprehensive off-pavement mapping datasets. Sources confirm this as the company's Series A or initial major growth equity financing, praised for its entrepreneurial journey, product-market fit in outdoor recreation, and potential in mobile technology. Investors highlighted onX's transformation into a world-class mobile tech company with strong growth in team, technology, brand, and user base. Subsequent rounds included a Series B of $87.4 million in October 2022 led by Summit Partners with participation from Steve Burke's Madison Valley Partners and others, supporting growth, public lands commitment, and platform expansion amid thriving outdoor industry demand. Later, a $280 million Series C in 2024 valued the company at nearly $1.4 billion, with cumulative funding exceeding $380 million. onX has demonstrated impressive customer traction through subscription-based apps for hunting, off-roading, and backcountry navigation, committing app sales to public land access and trail restoration. |
Who has invested in onxMaps?
6 investors have backed onxMaps across its funding rounds, including Summit Partners, Bessemer Venture Partners, NEXT Frontier Capital, Millennium Technology Value Partners, Madison Valley Partners and Stephen Burke.
Lead investors include Summit Partners.
onxMaps Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Feb 2018 | ||
| 1 | Participant | Feb 2018 | ||
| 1 | Participant | Feb 2018 | ||
| 1 | Participant | Feb 2018 | ||
This data is available for Pro users. Sign up to see all 6 onxMaps investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by onxMaps
onxMaps has acquired 2 companies to date.
Last acquisition by onxMaps was on March 20th 2024. onxMaps acquired TroutRoutes for undisclosed valuation.
Latest Acquisitions by onxMaps
| Description | TroutRoutes is a Bozeman, Montana-based mapping platform for fly anglers targeting trout streams. Its app uses GIS data, water flow sensors, and angler reports to highlight productive waters in real-time across North America. TroutRoutes provides hatch charts, access points, and gear recommendations for species like brown and rainbow trout. | Adventure Projects is a Seattle-headquartered operator of online platforms for outdoor enthusiasts, including Mountain Project for climbing routes, Hiking Project for trails, and MTB Project for mountain biking paths. The company aggregates community-submitted data on over 500,000 locations across the United States and Canada, providing GPS maps, photos, reviews, and difficulty ratings. Integrated mobile apps enable offline access and route planning, serving millions of users annually who log trips and contribute updates. |
| HQ Country | ||
| HQ City | Minneapolis, MN | Boulder, CO |
| Deal Date | 20 Mar 2024 | 30 Dec 2020 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all onxMaps acquisitions and their M&A valuation multiples. Start Free Trial | ||
onxMaps Competitors
onxMaps competitors include listed companies like Keep Inc. and Sleep Cycle, and private ones like PSG, Strava, OneFootball and SMARTSCORE.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $4.9B | - | ||
| Private | $500M | - | $1.5B | 3.0x | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $688M | - | ||
| Publicly listed | $244M | ($8M) | $82M | - | ||
| Publicly listed | $24M | $7M | $44M | 1.5x |
onxMaps Public Comps
onxMaps is still privately-owned, but its public comps include Meta, Bending Spoons, Kakao, Match Group, Kunlun, Duolingo, Life360, Strive, Grindr and Meitu.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $201B | $104B | 8.8x | 7.4x | 17.0x | 12.7x | |||
| $2.6B | $520M | 11.0x | - | 54.9x | - | |||
| $5.9B | $1.1B | 0.9x | 0.9x | 4.8x | 4.1x | |||
| $3.5B | $939M | 3.7x | 3.7x | 13.9x | 10.0x | |||
| $1.2B | ($230M) | 6.8x | 5.7x | (36.1x) | (111.2x) | |||
| $1B | $152M | 5.4x | 4.9x | 37.3x | 17.9x | |||
| $489M | $32M | 6.4x | 5.0x | 97.0x | 25.6x | |||
| $4M | ($21M) | 878.1x | 316.5x | (149.8x) | (64.9x) | |||
This data is available for Pro users. Sign up to see all onxMaps competitors and their valuation data. Start Free Trial | ||||||||
Common questions about onxMaps
| When was onxMaps founded? | onxMaps was founded in 2009. |
| Where is onxMaps headquartered? | onxMaps is headquartered in Missoula, MT, United States. |
| Is onxMaps publicly listed? | No, onxMaps is a private, VC-backed company. |
| How much funding has onxMaps raised? | onxMaps has raised $195M across 3 funding rounds. |
| What was onxMaps' last funding round? | onxMaps' last funding round was a $87M Series B in October 2022, led by Summit Partners. |
| Who are onxMaps' investors? | onxMaps' investors include Summit Partners, Stephen Burke, Bessemer Venture Partners, NEXT Frontier Capital, Madison Valley Partners and Millennium Technology Value Partners. |
| Which companies are comparable to onxMaps? | Companies comparable to onxMaps include PSG, Strava, OneFootball, SMARTSCORE, Keep Inc. and Sleep Cycle. |
| How many companies has onxMaps acquired? | onxMaps has acquired 2 companies, including TroutRoutes and Adventure Projects. |
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