Legal tech startup Clio valued at $1.6B after raising $110M – GeekWire
New funding: Online legal giant Clio raised $110 million, boosting its valuation to $1.6 billion.
The business: Founded in 2008 and based in the Vancouver, B.C., area, Clio serves thousands of law firms that use its software to run their business and manage relationships with clients. Clio is riding tailwinds from the pandemic that accelerated digital adoption within the legal industry as hearings and proceedings are done virtually. Legal tech startups such as Ironclad and Reveal recently landed large funding rounds. Clio employs more than 600 people and expects to add another 250 workers this year.
Leadership: The company is led by CEO and co-founder Jack Newton, an author and podcast host who also co-founded the Legal Cloud Computing Association. He was previously director of product development at Chenomx. Newton co-founded Clio with Rian Gauvreau, who stepped down this month but remains on the board.
Investors: Funds and accounts advised by T. Rowe Price Associates, Inc. led the Series E round, which included participation from OMERS Growth Equity. Seattle-area tech veteran Mark Britton sits on Clio’s board. Britton recently invested in a seed round for Clearbrief, a legal writing startup based in Seattle.