Clio Revenue, Valuation, Funding & Investors
Clio is valued at $5B as of November 2025, a 12.5x multiple on its last reported $400M revenue.
Last Clio valuation
$5B
Series G · Nov 2025
Last Clio funding round
$500M
Series G · Nov 2025
Clio revenue
$400M
Series G · Nov 2025
Key investors in Clio
TCV
JMI Equity
New Enterprise Associates
T. Rowe Price
Goldman Sachs Asset Management
Sixth Street
About Clio
Clio is a Vancouver-headquartered legal technology company providing cloud-based practice management software for law firms worldwide. The platform integrates client intake, case management, billing, time tracking, and document automation, serving over 150,000 legal professionals across 105 countries. Clio offers tools like Clio Grow for marketing and Clio Manage for operations, with partnerships including QuickBooks and Microsoft Office 365 to streamline workflows for solo practitioners and enterprises.
Founded
2008
HQ
VancouverWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$400M (Nov 2025)
Valuation
$5B (Nov 2025)
Clio Valuation
Clio is currently valued at $5B, based on its Series G in November 2025.
The $500M round was led by New Enterprise Associates, with participation from Sixth Street, TCV, JMI Equity and Goldman Sachs Asset Management.
Clio's valuation has grown 45x from $110M at its Series C in March 2014 to $5B in November 2025, across 4 priced rounds.
Clio valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Nov 2025 | Series G | $5B | 12.5x |
| Jul 2024 | Series F | $3B | 10.0x |
| Apr 2021 | Series E | $1.6B | 5.3x |
| Mar 2014 | Series C | $110M | - |
Clio Revenue
Clio's latest recorded revenue is $400M, as of its Series G in November 2025. At a $5B valuation, that implies a 12.5x revenue multiple.
Revenue grew from $300M in April 2021 to $400M in November 2025, while the revenue multiple moved from 5.3x to 12.5x.
Clio revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Nov 2025 | $400M | $5B | 12.5x | Series G |
| Jul 2024 | $300M | $3B | 10.0x | Series F |
| Apr 2021 | $300M | $1.6B | 5.3x | Series E |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Clio Funding History
Clio has raised a total of $1.8B across 5 funding rounds.
Clio's first fundraising round was a $20M Series C in March 2014. The most recent completed round was a $500M Series G in November 2025.
Clio funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2025 | Series G | New Enterprise Associates (lead); Sixth Street; TCV; JMI Equity; Goldman Sachs Asset Management | $500M | $5B | Clio, a Burnaby, Canada-based legal technology company, provides cloud-based software and AI solutions for legal professionals and law firms worldwide, streamlining workflows, enhancing decision-making, and ensuring security. Headquartered in Burnaby, BC, it serves hundreds of thousands of legal professionals in over 130 countries and is approved by more than 100 bar associations. On November 10, 2025, Clio announced the completion of its US$1 billion acquisition of vLex, the largest transaction in legal tech history, alongside closing a US$500 million Series G funding round at a US$5 billion valuation, led by New Enterprise Associates (NEA) with participation from TCV, Goldman Sachs Asset Management, Sixth Street Growth, and JMI Equity. The Series G round, following Clio's record-setting $900 million Series F last year by the same lead investors, also includes a strategic US$350 million debt facility from Blackstone and Blue Owl Capital. Post-acquisition and financing, Clio reports $400 million in annual recurring revenue (ARR) and a customer base of 400,000 legal professionals. Funds will support AI innovation, integration of vLex's legal research capabilities, strategic acquisitions, global platform expansion, and enterprise growth. Investor confidence is highlighted by large checks from existing backers, reflecting Clio's financial strength, execution, and leadership in legal AI. NEA praised Clio's trusted platform and AI integration reshaping legal work. The financing provides headroom for M&A and aggressive AI investments beyond the vLex deal, positioning Clio as a market leader in transforming the legal experience. |
| Jul 2024 | Series F | New Enterprise Associates (lead); OMERS Private Equity; T. Rowe Price; Sixth Street; TCV; CapitalG; Tidemark; JMI Equity; Goldman Sachs Asset Management | $900M | $3B | Clio, a Burnaby, Canada-based leader in cloud-based legal technology software, raised US$900 million in a Series F funding round on July 23, 2024, based on a US$3 billion valuation. The round was led by New Enterprise Associates (NEA) with a US$500M+ equity investment, and included participation from Goldman Sachs Asset Management, Sixth Street Growth, CapitalG, Tidemark, TCV, and JMI Equity. This marked the largest capital raise for cloud legal software and one of the top five largest for vertical market software companies. The funding, described as heavily oversubscribed, will support AI innovation, strategic growth, upmarket expansion, payments and fintech enhancements, and global penetration. Clio serves hundreds of thousands of legal professionals in over 130 countries, approved by more than 100 bar associations. NEA's growth fund targets high-growth companies generating $25-50 million in revenue, though specific Clio figures were not disclosed. A subsequent Series G round in November 2025 raised $500 million at a $5 billion valuation with some overlapping investors, alongside a $1 billion vLex acquisition and $350 million debt facility, but does not match the query's July 2024 date and full investor list. |
| Apr 2021 | Series E | OMERS Growth Equity (lead); T. Rowe Price (lead) | $110M | $1.6B | Clio, a Vancouver-based leader in cloud-based legal technology, provides practice management software that transforms the legal experience through client-centered tools. On April 27, 2021, it raised US$110 million in a Series E funding round led by funds and accounts advised by T. Rowe Price Associates, Inc. and OMERS Growth Equity, achieving a post-money valuation of US$1.6 billion and becoming the first global legal practice management unicorn. The investment underscores explosive demand for cloud-based legaltech, enabling Clio to enhance its platform for equitable and accessible legal services. CEO Jack Newton highlighted the round's role in empowering lawyers with modern technology. OMERS Growth Equity praised Clio's execution, innovation, and market leadership in legaltech. T. Rowe Price, managing US$1.52 trillion in assets as of March 31, 2021, and OMERS Growth Equity, focused on high-growth tech firms, partnered to fuel Clio's expansion. Subsequent rounds, like the 2024 Series F at US$3 billion valuation, noted growth to over US$200M ARR, but these reflect later performance. |
| Sep 2019 | Series D | JMI Equity (lead); TCV (lead) | $250M | - | Clio is a cloud-based legal technology company headquartered in Burnaby, Canada, that provides practice management and legal AI solutions designed to help law firms and clients work together more effectively. The platform serves as a central hub for legal professionals, addressing pain points in the legal industry and creating infrastructure for a more modern, cloud-centered legal services ecosystem. In September 2019, Clio announced a $250 million Series D funding round from TCV and JMI Equity, marking one of the largest investments in legal technology history and the largest growth-stage transaction in Canadian history at that time. The round reflected investor confidence in Clio's market leadership and its ability to drive disruption in the legal software space. The company's subsequent funding rounds revealed higher valuations: $1.6 billion in Series E (2021), $3 billion in July 2024, and $5 billion in Series G (November 2025), with a notable $1 billion acquisition of vLex completed alongside the Series G round. |
| Mar 2014 | Series C | Bessemer Venture Partners (lead); Acton Capital; Point Nine; Version One Ventures; Oxygen Capital Partners, LLC | $20M | $110M | Clio, a Vancouver-based cloud-based legal practice management platform for small and midsize law firms, raised $20 million in its Series C funding round on March 25, 2014, led by Bessemer Venture Partners with participation from Acton Capital, Point Nine, Version One Ventures, and Oxygen Capital Partners. The round brought Clio's total funding to $27 million at that point, following a $6 million Series B in 2012 and a $1 million Series A in 2009. The funding was aimed at accelerating product development, expanding sales efforts, doubling the workforce to over 200 employees, and fueling international growth, including a new office in Dublin, Ireland. Clio emphasized its traction with thousands of customers across 50 countries and over 100 employees at the time, positioning itself as a specialized vertical SaaS solution transforming legal workflows by enabling cloud-based, client-centered practice management and reducing time spent on administrative tasks—users reportedly saved an average of 8 hours per week. Bessemer Venture Partners highlighted Clio's strong performance in the legal vertical, comparing it to successes like Skype and LinkedIn, and noted the shift toward tailored SaaS over generic enterprise software. Later funding rounds like the 2019 Series D ($250M) and 2021 Series E ($110M at $1.6B valuation) underscored Clio's ongoing growth in legaltech. |
Who has invested in Clio?
15 investors have backed Clio across its funding rounds, including TCV, JMI Equity, New Enterprise Associates, T. Rowe Price, Goldman Sachs Asset Management and Sixth Street.
Lead investors include New Enterprise Associates, OMERS Growth Equity, T. Rowe Price, JMI Equity, TCV and 1 other investor.
Clio Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 San Francisco, CA | 3 | Lead | Sep 2019 | |
| Baltimore, MD | 3 | Lead | Sep 2019 | |
| San Francisco, CA | 2 | Lead | Jul 2024 | |
| Baltimore, MD | 2 | Lead | Apr 2021 | |
| San Francisco, CA | 2 | Participant | Jul 2024 | |
| New York City, NY | 2 | Participant | Jul 2024 | |
| Toronto | 1 | Participant | Jul 2024 | |
 Munich | 1 | Participant | Mar 2014 | |
| Berlin | 1 | Participant | Mar 2014 | |
| San Francisco, CA | 1 | Lead | Mar 2014 | |
| San Francisco, CA | 1 | Participant | Jul 2024 | |
| Toronto | 1 | Lead | Apr 2021 | |
| San Francisco, CA | 1 | Participant | Jul 2024 | |
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Start Free TrialAcquisitions by Clio
Clio has acquired 5 companies to date.
Last acquisition by Clio was on June 9th 2026. Clio acquired Jurisage for undisclosed valuation.
Latest Acquisitions by Clio
| Description | Jurisage is a Paris-headquartered software firm specializing in machine learning for legal applications. It delivers AI models for contract review, legal research, and predictive justice outcomes, trained on millions of European case documents. Founded in 2017, the platform supports French, English, and German languages, serving mid-sized law firms with APIs that reduce review times by integrating into existing DMS systems. | - | - | - | |
| HQ Country | |  |  | | |
| HQ City | Ottawa | Barcelona | - | - | |
| Deal Date | 9 Jun 2026 | 30 Jun 2025 | 13 Mar 2025 | 8 Sep 2021 | |
| Valuation | undisclosed | $1B | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Clio acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Investments by Clio
Clio has invested in 2 companies to date.
Latest investment by Clio was on June 9th 2025. Clio invested in Definely in their $30M Series B round.
Latest Investments by Clio
| Description | Definely is a LegalTech suite embedding AI tools into Microsoft Word for contract lifecycle management. Components include Vault storing 5,000+ precedent clauses, Draft for cross-document editing, Enhance applying agents for clause generation on English law templates, Proof detecting inconsistencies in boilerplate, and PDF scanner extracting terms from agreements. London-based, Definely reduces review time for in-house counsel at firms handling M&A and commercial contracts. | EvenUp is a San Francisco-headquartered AI platform that automates demand letter generation for personal injury law firms handling auto accidents and liability cases. The software analyzes medical bills, police reports, employment records, and expert valuations to compute economic and non-economic damages, producing tailored settlement packages with narrative summaries. EvenUp serves over 1,000 law firms nationwide, integrating with case management systems like Clio to accelerate negotiations and boost recovery values by up to 30 percent. |
| HQ Country | | |
| HQ City | London | San Francisco, CA |
| Deal Date | 9 Jun 2025 | 6 Apr 2023 |
| Round | Series B | Series B |
| Raised | $30M | $51M |
| Investors | Octopus Ventures; Zrosk Investment Management; Revaia; The Raine Group; Alumni Ventures; Beacon Capital; Cornerstone VC | Pathlight Ventures; Gokul Rajaram; SignalFire; The New Normal Fund; Bessemer Venture Partners; NFX; Bain Capital Ventures; Allison Pickens Ventures; Scott Belsky; DCM Ventures |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
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Clio Competitors
Clio competitors include listed companies like Intapp and CS Disco, and private ones like Ironclad, Filevine, Icertis and Everlaw.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | $200M | - | $3.2B | 16.0x | |
| Salt Lake City, UT | Private | $200M | - | $3B | 15.0x | |
| United States | Publicly listed | $578M | ($16M) | $2.8B | 4.5x | |
| Seattle, WA | Private | $300M | - | $2.8B | 9.3x | |
| San Francisco, CA | Private | - | - | $2B | - | |
| United States | Publicly listed | $157M | ($44M) | $273M | 1.0x |
Clio Public Comps
Clio is still privately-owned, but its public comps include Topicus, Andersen Group, Intapp, LegalZoom, Bengo4.com, RWS Holdings, IPH, Keystone Law Group, CS Disco and Knights Group Holdings.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.8B | $393M | 3.4x | 3.0x | 15.3x | 10.6x | |||
| $839M | ($121M) | 8.6x | 7.6x | (59.9x) | 29.7x | |||
| $578M | ($16M) | 4.6x | 4.5x | (164.3x) | 20.9x | |||
| $756M | $74M | 1.2x | 1.1x | 12.1x | 4.8x | |||
| $105M | $19M | 7.7x | 6.9x | 43.8x | 33.0x | |||
| $927M | ($26M) | 0.7x | 0.7x | (27.2x) | 4.8x | |||
| $505M | $140M | 1.7x | 1.7x | 6.1x | 5.9x | |||
| $155M | $17M | 1.8x | 1.6x | 16.1x | 13.3x | |||
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Common questions about Clio
| When was Clio founded? | Clio was founded in 2008. |
| Where is Clio headquartered? | Clio is headquartered in Vancouver, Canada. |
| Is Clio publicly listed? | No, Clio is a private, VC-backed company. |
| What is Clio's valuation? | Clio was last valued at $5B in its Series G in November 2025. |
| How much funding has Clio raised? | Clio has raised $1.8B across 5 funding rounds. |
| What was Clio's last funding round? | Clio's last funding round was a $500M Series G in November 2025, led by New Enterprise Associates. |
| Who are Clio's investors? | Clio's investors include TCV, JMI Equity, New Enterprise Associates, T. Rowe Price, Sixth Street, Goldman Sachs Asset Management, OMERS Private Equity, Acton Capital, Point Nine, Bessemer Venture Partners and 5 others. |
| What is Clio's revenue? | Clio's latest recorded revenue is $400M (November 2025). |
| What is Clio's revenue multiple? | Clio's latest valuation implies a 12.5x revenue multiple ($5B valuation on $400M of revenue). |
| Which companies are comparable to Clio? | Companies comparable to Clio include Ironclad, Filevine, Intapp, Icertis, Everlaw and CS Disco. |
| How many companies has Clio acquired? | Clio has acquired 5 companies, including Jurisage, vLex, Sharedo, Lawyaw and Lexicata. |
| What was the largest acquisition by Clio? | The $1B acquisition of vLex in June 2025 is the largest acquisition Clio has made to date. |
| How many companies has Clio invested in? | Clio has invested in 2 companies, including Definely and EvenUp. |
| What was Clio's last investment? | In June 2025, Clio invested in Definely's $30M Series B alongside Octopus Ventures, Zrosk Investment Management, Revaia and 4 other investors. |
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