vLex Acquisition, Valuation, Funding & Investors

vLex was acquired by Clio for $1B in June 2025.

See full vLex profile

vLex acquisition price

$1B

Acquired by Clio · Jun 2025

Cumulative funding vLex raised

$5M

across 1 funding round

Key investors in vLex

  • Criteria Venture Tech

vLex Overview

About vLex

vLex is a Barcelona legal-information and legal-technology company founded by Lluis and Angel Faus in 1999. It operates a subscription research platform used by law firms, corporate legal departments, universities and government bodies. The service aggregates legislation, case law, books, journals and other legal sources from publishers and public institutions across many jurisdictions. Search, workflow and machine-learning tools help professionals find, compare and apply that material. At the 2012 financing, vLex reported more than 62 million documents, over 40,000 paying users, relationships with more than 1,000 publishers and a workforce exceeding 120 people. The company later added artificial-intelligence products and expanded further through acquisitions. Oakley Capital acquired vLex in 2022, and legal-software provider Clio subsequently agreed to purchase the business in 2025.


Founded

1998

HQ

SpainBarcelona

Website

vlex.com

Status

Acquired

Customer focus

B2B & B2G

Revenue model

Subscription

Valuation

$1B (acquired Jun 2025)

vLex Acquisition

vLex was acquired by Clio for $1B on 30 June 2025.

Before the acquisition vLex had raised $5M across 1 funding round.

Clio, a Burnaby, BC-based global leader in legal AI technology and provider of a legal operating system trusted by over 200,000 legal professionals, completed its US$1 billion acquisition of vLex on November 10, 2025. vLex, a Spanish-American pioneer in legal intelligence, offers the world’s most comprehensive global legal research platform powered by its Vincent AI assistant, with over 350 employees joining Clio’s 2,000-person headcount. The deal, the largest M&A transaction in legal technology history, combines Clio’s practice management tools with vLex’s research, drafting, and AI capabilities to form the Intelligent Legal Work Platform, enabling connected AI-powered workflows across the business and practice of law. The transaction structure includes cash, stock, and a significant equity component where Oakley Capital, vLex’s majority shareholder and a leading European private equity firm, opted for Clio stock, signaling confidence in Clio’s AI vision. The closing coincided with Clio’s US$500 million Series G funding round led by New Enterprise Associates (NEA), plus participation from TCV, Goldman Sachs Asset Management, Sixth Street Growth, and JMI Equity, valuing Clio at US$5 billion, alongside a US$350 million debt facility to fuel AI innovation and further M&A. This follows Clio’s March 2025 acquisition of ShareDo, rebranded as Clio Operate for enterprise work management, accelerating expansion from small/midsize firms to global enterprises and large legal organizations. Strategically, the acquisition advances Clio’s international growth, particularly in enterprise markets, and positions it against competition by integrating static legal data into adaptive, learning systems for the trillion-dollar legal services market. Clio plans additional smaller-scale acquisitions to enhance its product roadmap post-integration, building on its Series F valuation of US$3 billion in July 2024.

vLex acquisition details
AcquirerDateTypePrice
30 Jun 2025Strategic M&A$1B

vLex Funding History

vLex has raised a total of $5M across 1 funding round.

vLex funding rounds

vLex funding rounds
DateStageInvestorsRaisedDeal Summary
Jan 2012Undisclosed stageCriteria Venture Tech (lead)$5MvLex closed a EUR 4 million investment round on January 13, 2012. Caixa Capital TIC, managed by the predecessor of Criteria Venture Tech, led the financing alongside existing shareholders and public financing from Spain's Avanza Plan and ENISA. The company planned to use the capital to expand its subscription legal-research platform across Latin America. At announcement, vLex served professional, government, academic and corporate users and had more than 40,000 paid subscribers. Its database contained more than 62 million documents sourced through relationships with over 1,000 publishers, and the company employed more than 120 people across six cities. The published EUR 4 million is the total financing round and includes public funding rather than an investor-specific Criteria check. vLex's 2022 Oakley buyout and 2025 sale to Clio already exist in the database and are not repeated.

Who has invested in vLex?

1 investor has backed vLex across its funding rounds, including Criteria Venture Tech.

Lead investors include Criteria Venture Tech.


vLex Investors

Investors in vLex by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions by vLex

vLex has acquired 3 companies to date.

Last acquisition by vLex was on April 4th 2023. vLex acquired Fastcase for undisclosed valuation.


Latest Acquisitions by vLex

Fastcase
Justis
Quolaw
Description
-
Justis is a London-headquartered legal research database offering full-text access to case law and legislation. It covers over 3 million judgments from UK courts, Ireland, Caribbean jurisdictions, and international tribunals since 1163, alongside statutes from 1235. Integrated with vLex since 2019, Justis supports advanced Boolean searches, citator tools, and PDF exports for barristers, solicitors, and academics at firms like Clifford Chance and universities including Oxford.
Quolaw is a web-based SaaS law practice management software. Lawyers access case tracking, time billing, client portals, document automation, and calendaring from any device. Designed for solo practitioners and small firms, it ensures secure cloud storage and mobile compatibility.
HQ CountryUnited StatesUnited KingdomSpain
HQ City
-
London
Barcelona
Deal Date4 Apr 202327 Mar 201927 Aug 2014
Valuationundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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vLex Competitors

vLex competitors include listed companies like CS Disco and Intapp, and private ones like Assembled, Fumi Technology, Kahua and Reserv.

Public and private companies comparable to vLex
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
AssembledUnited StatesSan Francisco, CAPrivate--$1B-
Fumi TechnologyChinaHunanPrivate--$1B-
KahuaUnited StatesAlpharetta, GAPrivate$100M-$1B10.0x
ReservUnited StatesNew York City, NYPrivate--$1B-
CS DiscoUnited StatesUnited StatesPublicly listed$157M($44M)$340M1.4x
IntappUnited StatesUnited StatesPublicly listed$578M($16M)$3.2B5.1x

vLex Public Comps

vLex is no longer listed, but its public comps include RWS Holdings, CS Disco, Hibino, Xp Industrial FII, Dye & Durham, Valtes Holdings, GetBusy, Sharing Innovations, Intapp and Topicus.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
RWS Holdings$923M($25M)0.8x0.8x(30.5x)5.2x
CS Disco$157M($44M)1.6x1.4x(5.5x)(32.0x)
Hibino$429M$59M0.6x0.6x4.4x-
Xp Industrial FII($11M)-(7.7x)---
Dye & Durham$294M$144M3.3x3.4x6.7x6.8x
Valtes Holdings$76M$6M0.7x0.6x8.5x-
GetBusy$29M$2M1.9x1.7x31.4x25.4x
Sharing Innovations$28M$1M0.5x0.5x11.3x-

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Common questions about vLex

When was vLex founded?vLex was founded in 1998.
Where is vLex headquartered?vLex is headquartered in Barcelona, Spain.
Is vLex publicly listed?No, vLex was acquired by Clio in June 2025.
Who acquired vLex?vLex was acquired by Clio in June 2025.
How much was vLex acquired for?vLex was acquired for $1B in June 2025.
How much funding has vLex raised?vLex has raised $5M across 1 funding round.
What was vLex's last funding round?vLex's last funding round was a $5M undisclosed-stage round in January 2012, led by Criteria Venture Tech.
Who are vLex's investors?vLex's investors include Criteria Venture Tech.
Which companies are comparable to vLex?Companies comparable to vLex include Assembled, Fumi Technology, Kahua, Reserv, CS Disco and Intapp.
How many companies has vLex acquired?vLex has acquired 3 companies, including Fastcase, Justis and Quolaw.

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