Clio, a Vancouver, Canada-based legal technology company, has secured US$900 million in a Series F investment round, valuing the company at US$3 billion.
Investors
The round was led by New Enterprise Associates (NEA), with participation from new investors Goldman Sachs Asset Management, Sixth Street Growth, CapitalG, and Tidemark, alongside existing investors TCV, JMI Equity, T. Rowe Price Associates, Inc., T. Rowe Price Investment Management, Inc., and OMERS.
New Enterprise Associates, Inc. (NEA) is a global investment firm founded in 1977, managing over $25 billion in assets as of December 31, 2023. NEA invests in technology and healthcare companies across all stages, from seed to IPO. The firm has seen over 270 portfolio company IPOs and 450+ mergers and acquisitions.
Clio Use of Funds
The company plans to use the funding to expand its multi-product platform, focusing on enhancing its AI portfolio and integrated legal payments. It also aims to accelerate market expansion, deepening its presence in over 130 countries.
About Clio
Founded in 2008 by Jack Newton and Rian Gauvreau, Clio is a legaltech company that provides cloud-based legal technology solutions. Headquartered in Vancouver, Clio offers a comprehensive suite of tools for law firm management, including client intake, case and document management, legal payments, and scheduling. Key products include Clio Duo (AI-driven task automation), Clio Draft (document automation), and Clio Accounting (financial management). It integrates with over 250 legal software tools. Clio serves over 1,000 mid-sized U.S. law firms and continues to grow, employing over 1,100 people globally.
Funding Details
Company: Clio
Raised: US$900.0M
Round: Series F
Funding Month: July 224
Lead Investors: New Enterprise Associates (NEA)
Additional Investors: Goldman Sachs Asset Management, Sixth Street Growth, CapitalG, Tidemark, TCV, JMI Equity, T. Rowe Price Associates, Inc., T. Rowe Price Investment Management, Inc., OMERS
Company Website: https://www.clio.com/
Software Category: Legal
Source: https://www.clio.com/about/press/series-f/