2 months ago
Legal tech institution Clio said connected Tuesday it had raised US$900 cardinal successful an finance information led by task superior patient New Enterprise Associates (NEA), successful 1 of nan largest fundraises by a Canadian startup.
The Series-F backing information values nan institution astatine US$3 cardinal and comprises caller finance arsenic good arsenic a secondary waste of shares by immoderate insiders, Clio told Reuters.
Clio was earlier weighted astatine US$1.6 billion, erstwhile nan institution raised much than US$100 cardinal successful April 2021.
In nan latest round, NEA will put US$500 cardinal successful Clio, while nan remaining US$400 cardinal comes from caller investors Goldman Sachs Asset Management, Sixth Street Growth, CapitalG and Tidemark, on pinch immoderate existing investors.
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Vancouver, British Columbia-based Clio offers a level for rule firms to negociate clients and cases and process payments, among different capabilities.
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The company, launched successful 2008, presently clocks much than US$200 cardinal successful annualized revenue.
Clio said it will usage nan costs to beforehand its level and grow its customer base.
NEA Co-CEO Tony Florence will subordinate nan committee of board astatine Clio pursuing nan finance round.
Law firms Osler, Hoskin & Harcourt LLP and Wilson Sonsini Goodrich & Rosati served arsenic ineligible counsel to Clio and William Blair acted arsenic nan company’s exclusive financial advisor.
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