Clio launches equity investment portfolio Clio Ventures
The Lower Mainland-based legaltech unicorn looks to catalyze legal innovation.
When Clio reached unicorn status in April, they became the world’s first legaltech firm to reach such a valuation. Now, they’re looking to make sure they’re the first, but not the last. The company announced Clio Ventures, an equity investment portfolio for early-stage legaltech companies.
Why it matters: Clio became BC’s sixth unicorn to start 2021 through a $137 CAD million Series E funding round on April 27. Since then, the number of BC-bred unicorns has doubled. The growth of the province’s tech industry is a testament to driven entrepreneurs and innovators unconvinced by the status quo. But, none of it would be possible without the strength of the community pushing these companies forward. Clio looks to make sure 2021 isn’t a one-off year by committing to invest back into tech ecosystems.
The future of legaltech: “At Clio, we’re hard at work building our own set of products that enable legal professionals to be cloud-based and client-centered. Our focus is to continue to lead the charge in designing the future of legal,” Jack Newton, Clio’s CEO and co-founder, said. “We’re dedicated to building the first legal operating system on the market that will improve every aspect of the legal journey and transform the legal experience for all.”
“For now, the goal is simply to accelerate the most compelling companies building on the Clio Platform. As the program unfolds, you will see us invest in companies that align to our vision of creating the connective tissue the industry needs in a legal operating system,” Newton continued.
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