Legaltech leader Clio has secured a $500 million USD Series G round and an additional $350 million USD in debt financing, completing the $1 billion USD acquisition of vLex, a Spanish-American legal intelligence platform.
The move marks one of the largest transactions in global legaltech history and positions Clio to accelerate its AI-driven “intelligent legal work platform.”
The Series G round, composed entirely of primary equity, values the company at $5 billion USD, up from $3 billion during its 2024 Series F. The round was led by New Enterprise Associates (NEA), with continued support from TCV, Goldman Sachs Asset Management, Sixth Street Growth, and JMI Equity. The $350 million debt facility was co-led by Blackstone and Blue Owl Capital.
“This acquisition is a defining milestone for Clio,” said Curt Sigfstead, CFO at Clio. “It brings together two powerful forces in legaltech to create the world’s first truly intelligent legal work platform — helping legal professionals not just manage their practices, but perform legal work more effectively with AI.”
Building the intelligent legal platform
The acquisition of vLex, which houses one of the world’s most comprehensive legal databases, strengthens the company’s AI capabilities by integrating high-quality legal data with its existing cloud-based workflow tools. The combination allows the legal company to deliver more accurate, reliable, and context-aware AI assistance to lawyers worldwide.
“There are really only three global legal datasets at this scale — ours, Thomson Reuters’, and LexisNexis’,” Sigfstead noted. “We believe that gives us a significant advantage as legal AI evolves.”
Founded in 2008, Clio provides cloud-based practice management software that streamlines client intake, case management, document handling, billing, and payments for over 400,000 legal professionals. The company recently surpassed $400 million in annual recurring revenue (ARR) — double its 2024 figure — and now employs more than 2,000 people following vLex’s integration.
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Fueling AI, M&A, and global expansion
The new capital will strengthen Clio’s balance sheet and fund strategic growth initiatives, including international expansion, AI development, and further M&A activity. While future acquisitions are expected to be smaller than the vLex deal, Clio aims to continue consolidating key technologies across the legaltech ecosystem.
“AI is foundational to our vision,” Sigfstead added. “It’s not about replacing lawyers — it’s about empowering them to work faster, smarter, and with greater confidence.”
Clio’s AI features, including its Duo assistant launched last year, are already embedded in its core platform. The integration of vLex’s legal database will allow Clio to deliver next-generation legal AI that minimizes risk and improves accuracy — addressing the high stakes of legal decision-making.
Long-term vision and industry leadership
With its latest funding, Clio solidifies its place among Canada’s most valuable tech companies, alongside Cohere, Hopper, Wealthsimple, and 1Password. Sigfstead emphasized that while a public listing is possible in the future, the company remains focused on building a “100-year business.”
“Do we have aspirations to be a public company? Absolutely,” he said. “But for now, we’re well-capitalized to keep executing our long-term strategy as a private company.”
About Clio
Founded in 2008 and headquartered in Burnaby, Canada, Clio is the world’s leading provider of cloud-based legal practice management software. Its platform centralizes operations for legal professionals worldwide — from client onboarding to billing — while integrating AI-driven tools that enhance productivity, compliance, and decision-making. Following its acquisition of vLex, Clio is building the industry’s first intelligent legal work platform, combining legal workflows with world-class data and AI to power the future of law.
