Legal technology company Clio has raised $500 million in a funding round led by New Enterprise Associates (NEA), valuing the Vancouver-based firm at $5 billion.
Founded in 2008 by Jack Newton and Rian Gauvreau, Clio provides AI-powered software that automates and streamlines legal workflows, case management, and research for law firms worldwide. Its tools are now used in more than 130 countries, serving both large legal practices and solo professionals.
The round included participation from existing investors TCV, Goldman Sachs Asset Management, Sixth Street Growth, and JMI Equity, along with a $350 million debt facility led by Blackstone and Blue Owl Capital.
Clio said the funds will accelerate AI product innovation and strategic acquisitions as it seeks to expand its presence in the fast-growing legal automation market.
The latest funding nearly doubles the firm’s valuation from $3 billion in 2024, reflecting the strong investor appetite for AI tools that enhance efficiency and cut costs across professional services.
