Jul 26, 2024 - Business

Legaltech company Clio raises $900 million

Kia Kokalitcheva

Illustration of a pair of scales on a concert stage. — Illustration: Shoshana Gordon/Axios

Clio, a Canadian legaltech company, has raised $900 million in Series F funding at $3 billion valuation led by NEA, with Goldman Sachs, Sixth Street, CapitalG, and Tidemark also participating.

Why it matters: Companies have been throwing AI at every business category, but legal applications seem to have really convinced investors to cut big checks.

Zoom in: The 16-year-old Clio is rolling out generative AI and automation features.

It's nearly doubled its valuation from its previous round in 2021, when it was priced at $1.6 billion.
The new round includes primary and secondary share sales.

The bottom line: AI might not completely make lawyers obsolete, but it's bound to reshape how the legal industry operates.

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Legaltech company Clio raises $900 million

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