Fintech
Clio Raises $900M at $3B Valuation to Expand AI, Fintech Offerings
July 24, 2024
Written by FinTech Alliance in Financial Technology
Legal technology company Clio has successfully raised $900 million in a Series F funding round, bringing its valuation to $3 billion. The round, led by New Enterprise Associates, saw significant participation from investors such as Goldman Sachs Asset Management, Sixth Street Growth, CapitalG, and Tidemark. The funds will be used to enhance Clio’s product offerings, with a focus on AI and fintech solutions.
Clio’s software, which helps law firms automate processes like client intake, accounting, and document management, will see significant updates. One notable development is Clio Duo, a generative AI platform designed to help lawyers with routine tasks and leverage data analytics for greater efficiency. The platform includes features like audit logs for court discovery, aiming to further streamline legal operations.