Exit: Clio secures $250 M SeriesD from TCV and JMI to transform legal industry
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Acton Capital Press
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September 5, 2019
Vancouver/Dublin/Munich, September 05, 2019 – Clio (Themis Solutions Inc.), the leader in cloud-based legal technology, announced today it has raised US$ 250 million in SeriesD funding from TCV and JMI Equity. This growth investment marks one of the largest in legal technology, the largest in Canadian history, and a definitive shift for the future of the legal industry. TCV’s and JMI’s technology and software investments include Airbnb, Expedia, Facebook, FlixMobility, Kronos, Netflix and Spotify.
Founded by Jack Newton and Rian Gauvreau in 2008, Clio had raised two rounds of funding to date, totaling US$26 million, focused on bringing cloud technology to law firms – a revolutionary step forward from the expensive, outdated, on-premise solutions that were out of reach for most lawyers. With the Series D funding, Clio will work to transform the practice of law for good by creating cloud-based solutions designed to help law firms deliver client-centered experiences and make legal services more widely accessible. Today, Clio is already serving a user base of more than 150,000 legal professionals in 100 countries from international offices in Vancouver, Calgary, Toronto, Los Angeles and Dublin.
“Clio is committed to building the essential operating system for lawyers, one that focuses relentlessly on unlocking new efficiencies and entry points to legal services." -- Jack Newton, Clio
“This will allow legal professionals to easily deliver exceptional client experiences, increase their productivity, grow their firms, and make legal services more accessible. This investment will accelerate our ability to realize this vision”, says Jack Newton, CEO and Co-founder of Clio.
“Since our first investment in 2012, Clio has been driven by a clear long-term vision and a focused product strategy, leading to years of phenomenal growth and satisfied clients.” -- Christoph Braun, Acton Capital
“Today, as clear leader in LegalTech, Clio’s platform enables lawyers around the world to spend more time on their client’s cases. We are proud to have been part of Clio’s journey,” adds Christoph Braun, Managing Partner at Munich-based VC Acton Capital.
Clio has introduced several initiatives to drive innovation in the legal sector and the company has been regularly recognized as an award-winning employer and innovator in the industry. With European headquarters based in Dublin, Clio will also use these funds to amplify efforts to support access to legal services across Europe. Clio is the only legal case management software endorsed and approved by both the Law Society of England and Wales and the Law Society of Scotland due to their robust product, exceptional customer care, and commitment to helping law firms meet GDPR & SRA compliance responsibilities as data controllers.
Clio (Themis Solutions Inc.), the leader in cloud-based legal technology, empowers lawyers to be both client-centered and firm focused through a suite of cloud-based solutions, including legal practice management, client intake and legal CRM software. Clio has been transforming the industry for over a decade with 150,000 customers spanning 100 countries, and the approval of over 66 bar associations and law societies globally. Clio continues to lead the industry with initiatives like the Legal Trends Report, the Clio Cloud Conference, and the Clio Academic Access Program. Clio has been recognized as one of Canada’s Best Managed Companies, a Deloitte Fast 50 and Fast 500 company, and, most recently, Company of the Year, Anchor Success by the British Columbia Tech Association.
