{"id":7945,"date":"2021-04-27T14:10:51","date_gmt":"2021-04-27T13:10:51","guid":{"rendered":"https:\/\/www.clio.com\/uk\/?post_type=press&#038;p=7945"},"modified":"2021-11-01T15:38:40","modified_gmt":"2021-11-01T15:38:40","slug":"clio-secures-series-e","status":"publish","type":"press","link":"https:\/\/www.clio.com\/uk\/about\/press\/clio-secures-series-e\/","title":{"rendered":"Clio Valued at US$1.6B With Announcement of US$110M Series E Funding to Support Explosive Demand For Cloud-Based Legaltech"},"content":{"rendered":"\n\t\n\t\t\t\n\t\t\t\t\n\t\t\n\t\t\t\t\t\t\t\t\t\n\t\t\n\t\t\t\t\n\t\t\n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\n\n<div\n\tclass=\"o-image l-image aligncenter wp-image-7968 size-large \"\n\t\tstyle=\"max-width: 46.875rem;  width: 1024px;\"\n\t\t>\n\t<div\n\t\tclass=\"o-image__wrap l-image__wrap js-lazy-image-wrapper\"\n\t\t\t\t\tstyle=\"padding-top:52.5%;\"\n\t\t\t>\n\t\t\t\t\t<noscript>\n\t\t\t\t<img\n\t\t\t\t\ttitle=\"Web_Approved for Distribution_Series E &#8211; Announcement_ Meta Image\"\n\t\t\t\t\talt=\"Clio&#x20;Secures&#x20;Series&#x20;E&#x20;Funding&#x20;Round\"\n\t\t\t\t\tsrc=\"https:\/\/www.clio.com\/uk\/wp-content\/uploads\/sites\/3\/2021\/04\/Web_Approved-for-Distribution_Series-E-Announcement_-Meta-Image-750x394.png\"\n\t\t\t\t\twidth=\"750\"\n\t\t\t\t\theight=\"394\"\n\t\t\t\t\/>\n\t\t\t<\/noscript>\n\t\t\t\t<picture>\n\t\t\t\t\t\t\t<source\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tdata-srcset=\"https:\/\/www.clio.com\/uk\/wp-content\/uploads\/sites\/3\/2021\/04\/Web_Approved-for-Distribution_Series-E-Announcement_-Meta-Image-750x394.webp\"\n\t\t\t\t\t\t\tsrcset=\"data:image\/gif;base64,R0lGODlhAQABAIAAAP\/\/\/wAAACH5BAEAAAAALAAAAAABAAEAAAICRAEAOw==\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\ttype=\"image\/webp\"\n\t\t\t\t\/>\n\t\t\t\t\t\t<img\n\t\t\t\ttitle=\"Web_Approved for Distribution_Series E &#8211; Announcement_ Meta Image\"\n\t\t\t\talt=\"Clio&#x20;Secures&#x20;Series&#x20;E&#x20;Funding&#x20;Round\"\n\t\t\t\twidth=\"750\"\n\t\t\t\theight=\"394\"\n\n\t\t\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\tdata-src=\"https:\/\/www.clio.com\/uk\/wp-content\/uploads\/sites\/3\/2021\/04\/Web_Approved-for-Distribution_Series-E-Announcement_-Meta-Image-750x394.png\"\n\t\t\t\t\tsrc=\"data:image\/gif;base64,R0lGODlhAQABAIAAAP\/\/\/wAAACH5BAEAAAAALAAAAAABAAEAAAICRAEAOw==\"\n\t\t\t\t\tclass=\"is-lazy js-lazy-image\"\n\t\t\t\t\n\t\t\t\t\t\t\t\/>\n\t\t<\/picture>\n\t<\/div>\n\t<\/div>\n\n\t\t\t\n\n<p style=\"text-align: center\"><i><span style=\"font-weight: 400\">This investment establishes Clio as the first legal practice management unicorn globally.\u00a0<\/span><\/i><\/p>\n<p><b>Dublin, ROI, April 27, 2021 <\/b><span style=\"font-weight: 400\">&#8211; <\/span><a href=\"https:\/\/www.clio.com\/uk\"><span style=\"font-weight: 400\">Clio<\/span><\/a><span style=\"font-weight: 400\">, the leader in cloud-based legal technology, announced a new valuation of US$1.6B after raising US$110M in its Series E. The funding round was led by funds and accounts advised by <\/span><a href=\"https:\/\/www.troweprice.com\"><span style=\"font-weight: 400\">T. Rowe Price Associates, Inc.<\/span><\/a><span style=\"font-weight: 400\"> and also included <\/span><a href=\"https:\/\/www.omersprivateequity.com\/\"><span style=\"font-weight: 400\">OMERS Growth Equity<\/span><\/a><span style=\"font-weight: 400\">. This investment signals a historic moment in the growth of legal technology, with Clio becoming the first legal practice management unicorn globally.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cThis investment is indicative of the explosive demand for legal technology that empowers lawyers to be cloud-based and client-centred,\u201d said Jack Newton, CEO and Founder of Clio. \u201cThe 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.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">The legal industry is in the midst of a swift and massive transformation to cloud technology due to the need for law firms to find new ways to deliver services to clients. Although these needs were brought on by the events of the past year, the move to digital-first law firms is a permanent one as consumer expectations and behaviours change.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">To spearhead this new era of legal services,\u00a0 Clio will use the funding to further invest in its platform, strategic acquisitions, and partnerships aligned with the company\u2019s mission to transform the legal experience for all. The funding will also expedite Clio\u2019s plans to grow its workforce by 40 per cent in the UK and Ireland in 2021, with a focus on bolstering its product and engineering teams to continue innovating and evolving its product offerings.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cWe are excited to invest in Clio on behalf of our clients. Clio has significant growth opportunities given the company\u2019s innovative product offerings and leading market position in the legaltech space. We look forward to collaborating with the team and working to accelerate the company\u2019s efforts to improve technology offerings to the legal industry,\u201d said Andrew Davis, Director of Private Investments at T. Rowe Price Associates, Inc.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cOMERS Growth Equity is thrilled to become an investor in Clio.\u00a0We have followed Clio for a number of years, and remain impressed by the continued ability of Jack Newton and his team to execute, innovate, and deliver an amazing experience to their customers. We believe Clio has clearly established itself as a market-leading legaltech firm, and will deliver growth for decades to come,\u201d said Mark Shulgan, Managing Director and Head of OMERS Growth Equity.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Having secured US$6.6B across over 900 companies globally, legaltech is one of the fastest-growing sectors for investors. Funding has grown exponentially over the last few years, with total investments skyrocketing from US$1B to US$2.2B between 2018 and 2019. Clio\u2019s 2019 Series D, led by TCV and JMI Equity, was an integral part of that growth as the largest investment in legaltech, accounting for over 20 per cent of the entire industry\u2019s funding. In 2021, that trajectory continues to soar, with Clio at the forefront.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Learn more about how Clio is creating a better normal for legal professionals and how you can be a part of their mission to transform the legal experience for all at <\/span><a href=\"https:\/\/www.clio.com\/about\/careers\"><span style=\"font-weight: 400\">clio.com\/uk\/careers<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">###<\/span><\/p>\n<p><b>About Clio<\/b><\/p>\n<p><span style=\"font-weight: 400\">Clio is transforming the legal experience for all through cloud-based and client-centred legal technology. Clio has become a company to watch on a global scale after securing a CA$6M Series B investment in 2012 by German-based Acton Capital, a CA$20M Series C investment in 2014 by Bessemer Venture Partners and one of the largest investments in legaltech and Canadian history in 2019 with a US$250M Series D funding round led by TCV and JMI Equity. In 2021, Clio made history again by becoming the first legal practice management unicorn globally with a US$110M Series E investment led by funds and accounts advised by T. Rowe Price Associates, Inc. and OMERS Growth Equity. Learn more at <\/span><a href=\"https:\/\/www.clio.com\/\"><span style=\"font-weight: 400\">clio.com\/uk<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><b>Media Contact:<\/b><br \/>\n<span style=\"font-weight: 400\">Chloe Phillips, PR and Social Media Specialist\u00a0<\/span><br \/>\n<span style=\"font-weight: 400\">1-800-347-8314 | chloe.phillips@clio.com<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>About T. Rowe Price Associates, Inc.<\/b><\/p>\n<p>T. Rowe Price Associates, Inc. is an investment management organization of T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), which was founded in 1937 and has $1.52 trillion in assets under management as of March 31, 2021. T. Rowe Price provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The firm\u2019s disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.<\/p>\n<p>&nbsp;<\/p>\n<p><b>About OMERS Growth Equity<\/b><\/p>\n<p><span style=\"font-weight: 400\">OMERS Growth Equity invests in high-growth companies backed by exceptional teams. OMERS Growth Equity is a long-term investor, focused on supporting companies to pursue all types of growth opportunities. These growth opportunities could include scaling operations, making acquisitions, expanding product lines, or entering new markets. To learn more, visit: <\/span><a href=\"https:\/\/www.omersprivateequity.com\"><span style=\"font-weight: 400\">https:\/\/www.omersprivateequity.com<\/span><\/a><span style=\"font-weight: 400\">, or follow us on <\/span><a href=\"https:\/\/twitter.com\/omersgrowth?lang=en\"><span style=\"font-weight: 400\">Twitter<\/span><\/a><span style=\"font-weight: 400\"> or <\/span><a href=\"https:\/\/ca.linkedin.com\/company\/omers-strategic-investments\"><span style=\"font-weight: 400\">LinkedIn<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><b>Media Contact:<\/b><br \/>\n<span style=\"font-weight: 400\">Neil Hrab, Manager, External Communications and Media Relations<\/span><br \/>\n<span style=\"font-weight: 400\">1-416-369-2418 | nhrab@omers.com<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This investment establishes Clio as the first legal practice management unicorn globally.\u00a0 Dublin, ROI, April 27, 2021 &#8211; Clio, the leader in cloud-based legal technology, announced a new valuation of US$1.6B after raising US$110M in its Series E. The funding round was led by funds and accounts advised by T. Rowe Price Associates, Inc. and [&hellip;]<\/p>\n","protected":false},"author":35,"featured_media":7967,"template":"","meta":{"_acf_changed":false},"class_list":["post-7945","press","type-press","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v24.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Clio Valued at US$1.6B With Announcement of US$110M Series E Funding to Support Explosive Demand For Cloud-Based Legaltech | Clio UK<\/title>\n<meta name=\"description\" content=\"This investment establishes Clio as the first legal practice management unicorn globally. 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