Funding round
Clio Series B
Clio, which works in cloud-based legal practice management solutions in Burnaby, raised $6.0M in a Series B round announced on 30 Jan 2012, led by Acton Capital Partners. 2 firms took part. It is Clio's first venture round on record.
$6.0M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
Clio did not disclose a valuation in this round. It is Clio's first venture round on record, 4 years after it was founded in 2008. It is under 1% of the $1.79B Clio has raised in the venture rounds on record. Clio raised again 26 months later: a Series C round of $20M in Mar 2014. Its next priced round, a Series E in Apr 2021, valued it at $1.60B.
Clio's funding rounds
Clio has 6 venture rounds on record and 1 other deal. This one is highlighted.
- Series B this round 30 Jan 2012, led by Acton Capital Partners $6.0M
- Series C 25 Mar 2014, led by Bessemer Venture Partners $20M
- Series D 4 Sep 2019, led by Technology Crossover Ventures and JMI Equity $250M
- Series E 27 Apr 2021, led by T. Rowe Price Associates, Inc. and OMERS Private Equity $110M$1.60B post-money
- Series F 23 Jul 2024, led by New Enterprise Associates $900M$3.00B post-money
- Debt not a venture round 10 Nov 2025, led by Blackstone and Blue Owl Capital $350M
- Series G 10 Nov 2025, led by New Enterprise Associates $500M$5.00B post-money
Investors
Who put money in
Acton Capital Partners led the round with 1 other firm.
Lead investor
- Acton Capital Partners new investor
Also in the round
- backs 105 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
75 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $10M, and this round was 60% of the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 1 Jan 2012 | $49M | not disclosed | not named |
| Tech Companies | 1 Jan 2012 | $15M | not disclosed | Andreessen Horowitz |
| Tech Companies | 17 Jan 2012 | $4.1M | not disclosed | Austin Ventures |
| Tech Companies | 1 Jan 2012 | $2.1M | not disclosed | Rincon Venture Partners |
| Tech Companies | 14 Dec 2011 | $6.0M | not disclosed | Qualcomm Ventures |
| Tech Companies | 16 Feb 2012 | $4.4M | not disclosed | Flybridge and Revel Partners |
| Tech Companies | 2 Feb 2012 | $3.0M | not disclosed | West Capital Advisors |
| Tech Companies | 22 Feb 2012 | undisclosed | not disclosed | Founders Fund |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Clio raise in its Series B round?
Clio raised $6.0M in its Series B round, announced in Jan 2012.
Who led Clio's Series B round?
Acton Capital Partners led it, with Point Nine.
What was Clio's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
75 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $10M, and this round was 60% of the median.
Did Clio raise again after this round?
Yes: a Series C round in Mar 2014 of $20M.