The cloud-based legal technology startup hits a historic mark in future of legal industry with this investment.
Clio, a leading legal software company has recently announced that it has bagged US$250 million in Series D funding from American equity firms JMI Equity and TCV. According to sources, this marks a historic funding, as one of the largest in legal technology, and is expected to make a definitive shift in the future of the legal industry.
For the record, Clio is a cloud-based legal technology company that empowers lawyers to be both firm-focused and client-centered through a set of cloud-based solutions, including legal CRM, client intake and legal practice management software.
Jack Newton, CEO & Co-Founder of Clio, claims that their firm is committed to building an important operating system for lawyers, one that focuses on unlocking new efficiencies and entry points to legal services. He suggests that this will allow legal professionals to easily offer exceptional client experiences, enhance their productivity, expand their firms, and make legal services more accessible.
Newton, who was joined by, Burnaby Mayor Mike Hurley, BC Tech president & CEO Jill Tipping and Burnaby North–Seymour MP Terry Beech, said that the firm’s first ten years were about making lawyers' jobs more easier and the next decade will be a focus on transforming the client process.
He added their company is also focusing on making it easier for clients to find and work with lawyers. Moreover, this investment from experienced growth software investors will boost their ability to realize these visions.
According to reliable reports, the investment by American firms JMI & TVC, who have been partners with companies like Netflix, Spotify and Airbnb, will permit Clio to hire 100 new employees by the end of 2019, with an additional 100 in 2020.
Moreover, Clio’s customers can expect to see ongoing investment in the company’s offerings, with even more flexible and powerful tools for legal professionals to manage and enhance their practices, making them more sustainable and efficient as businesses.
Source Credits: https://www.bcbusiness.ca/Burnaby-based-Clio-hits-historic-Series-D-funding-mark