Clio Receives $20 Million From Bessemer Venture Partners
We’re very proud to announce that, as of today, Clio has closed a successful Series C funding round led by Bessemer Venture Partners, valued at $20M. BVP, an early-stage investor in companies such as Skype, LinkedIn, Yelp, Pinterest, and more, adds Clio to an impressive roster spanning 103 years and 108 IPOs.
Five years ago, Jack and Rian launched Clio from a drawing on a napkin with the dream of giving lawyers an alternative to restrictive, expensive locally-hosted practice management software. With over 100 employees, and thousands of delighted customers in 50 different countries, the response was emphatic agreement: yes, attorneys wanted more. More freedom and flexibility to pursue their passion without being tethered to an office.
More value to be passed on to their clients. More options for making the practice of law work for both their clients’ needs and their own. So where do we go from here? With the investment round closed, we’ll be able to accelerate product development, add considerably more talent to our team, and continue to deliver the efficiency, time savings and collaboration and management tools that help make your life easier, and we couldn’t be more thrilled about that.
A major focal point going forward is making decisions at a product level that translate into greater productivity for the end user — giving our customers the gift of time to spend doing something other than working. “We offer our customers one of life’s most precious resources: time,” said Jack Newton, CEO and founder, Clio. “We’ve found that our users save an average of 8 hours per week, giving them more time to spend on life outside of work.
This funding will allow us to further our reach and hone our product to continue to help lawyers focus on the parts of their business they enjoy.” “Increasingly, we see SaaS companies strike gold by providing specialized solutions tailored to a specific vertical rather than going for a ‘one-size-fits-all’ enterprise software,” said Trevor Oelschig, partner at Bessemer Venture Partners.
“This investment in Clio furthers our strategy to find the best-of-breed vertical solutions. Clio has already shown incredible traction in the legal space and demonstrated a deep understanding of how to tangibly improve the day-to-day workflow for lawyers.” We’re incredibly excited for the next chapter in Clio’s journey, and we’re thrilled you’ve chosen to accompany us.
We published this blog post in March 2014. Last updated: .
Categorized in: Clio