Clio raises $250 mln
Summary
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 US$26 million, focused on bringing cloud technology to law firms—a revolutionary step forward from the expensive, outdated, on-premise solutions that were out of reach for most lawyers. 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. “We believe the legal software space presents significant opportunities for continued disruption, and Clio is the clear leader,” said Matt Emery, General Partner at JMI Equity who has joined Clio’s board of directors. 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. TCV’s software and legal technology investments include Alarm.com, Altiris, Ariba, Avalara, Avetta, Avvo, AxiomSL, CCC Information Services, ExactTarget, ETQ, FinancialForce, Genesys, IQMS, LegalZoom, OpenText, OSIsoft, Rapid7, Rave Mobile Safety, RELEX Solutions, Sitecore, SiteMinder, SMT, Splunk, Toast, Xero, and more.
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