AI Hardware

Clio Raises $900M at $3B Valuation to Expand AI and FinTech Offerings

Legal tech company Clio raised $900 million in a Series F funding round, bringing its valuation to $3 billion. Clio aims to help law practices run more efficiently with its cloud-based technology.

By Priya Khosla July 25, 2024

Source: TechCrunch

Clio, which describes itself as “the operating system for law firms,” recently crossed over $200 million in ARR, up from $100 million ARR in June of 2022 and has been profitable (EBITDA positive) for several years, according to Clio founder and CEO Jack Newton.

This round, led by New Enterprise Associates, included significant participation from investors such as Goldman Sachs Asset Management, Sixth Street Growth, CapitalG, and Tidemark. The funds will be used to enhance Clio’s product offerings, particularly focusing on AI and fintech solutions.

Clio’s software will see significant upgrades including a notable development in Clio Duo, a generative AI platform designed to help lawyers with routine tasks and leverage data analytics for increased efficiency.

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