Legal tech company Clio announced it raised $137 CAD million in Series E funding which values the company at $2 CAD billion.1

What’s the big deal? This investment signals a historic moment in the growth of legal technology, with Clio becoming the first legal practice management unicorn globally.

Who are the investors?

• The funding round was led by funds and accounts advised by T. Rowe Price Associates, Inc. and also included OMERS Growth Equity.

CEO’s note: "This investment is indicative of the explosive demand for legal technology that empowers lawyers to be cloud-based and client-centred," said Jack Newton, CEO and Founder of Clio. "The support from T. Rowe Price funds and accounts and OMERS Growth Equity will enable us to continue to create a more equitable and accessible legal system by making it easier for clients and law firms to work together through cloud-based technologies."

What’s next?

The company said it will use the funding to invest in its platform, strategic acquisitions, and partnerships aligned with the company's mission to transform the legal experience for all.

The funding will also expedite Clio's plans to grow its workforce by 250 employees—an increase of 40 percent—in 2021, with a focus on bolstering its product and engineering teams to continue innovating and evolving its product offerings.