Clio raises $250 million in funding round to expand its cloud-based legal technology
Clio, a provider of cloud-based legal technology, has raised $250 million in Series D funding from TCV and JMI Equity.
With this growth investment, Clio will work to transform the practice of law by creating cloud-based solutions designed to help law firms deliver client-centered experiences and make legal services more widely accessible.
"Over three-quarters of legal problems don't receive legal assistance, yet lawyers are struggling to find new clients—it’s clear that something in the system is broken," said Jack Newton, CEO and co-founder of Clio. "Clio is committed to building the essential operating system for lawyers, one that focuses relentlessly on unlocking new efficiencies and entry points to legal services. This will allow legal professionals to easily deliver exceptional client experiences, increase their productivity, grow their firms, and make legal services more accessible. This investment from experienced growth software investors will accelerate our ability to realize this vision."
Clio’s first 10 years, and its two rounds of funding to date, totaling $26 million, focused on bringing cloud technology to law firms.
TCV and JMI have been investment partners to innovative technology companies such as Adaptive Insights, Airbnb, Eloqua, Expedia, Facebook, Netflix, PointClickCare, ServiceNow, and Spotify, and have helped these businesses achieve their growth objectives.
Clio’s customers can expect to see ongoing investment in the depth and breadth of Clio’s offerings, with even more powerful and flexible tools for legal professionals to manage and grow their practices, making them more efficient and sustainable as businesses.
Mark Britton, former Expedia executive and founder of legal marketplace Avvo.com, will be joining Clio’s board of directors to provide his own industry experience as the company brings its vision for the future of legal to market. Raymond James served as a buyside financial advisor to TCV for this investment.
For more information about this news, visit www.clio.com.