Funding round
Clio Series C
Clio, which works in cloud-based legal practice management solutions in Burnaby, raised $20M in a Series C round announced on 25 Mar 2014, led by Bessemer Venture Partners. 4 firms took part. It is Clio's second venture round on record; the one before was a Series B in Jan 2012.
$20M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Clio did not disclose a valuation in this round. It came 26 months after Clio's Series B. It is 1.1% of the $1.79B Clio has raised in the venture rounds on record. Clio raised again 66 months later: a Series D round of $250M in Sep 2019. 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 30 Jan 2012, led by Acton Capital Partners $6.0M
- Series C this round 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
Bessemer Venture Partners led the round with 3 other firms.
Lead investor
- Bessemer Venture Partners backs 412 venture-backed companies new investor
Also in the round
- backs 35 venture-backed companies new investor
- backs 105 venture-backed companies new investor
- backs 38 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
83 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $20M, and this round was close to the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 4 Mar 2014 | $15M | not disclosed | Catalyst Investors |
| Tech Companies | 5 Mar 2014 | $11M | not disclosed | Verizon Ventures |
| Tech Companies | 21 Apr 2014 | $70M | not disclosed | Foundation Capital |
| Tech Companies | 17 Apr 2014 | $70M | $588M | Foundation Capital |
| Tech Companies | 14 Apr 2014 | $40M | not disclosed | Mithril |
| AppDirect Tech Companies | 9 Apr 2014 | $35M | not disclosed | Mithril |
| Tech Companies | 18 Feb 2014 | $26M | not disclosed | Index Ventures |
| Tech Companies | 15 Apr 2014 | $25M | $150M | August Capital |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Clio raise in its Series C round?
Clio raised $20M in its Series C round, announced in Mar 2014.
Who led Clio's Series C round?
Bessemer Venture Partners led it, with Acton Capital, Point Nine and Version One Ventures.
What was Clio's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Tech Companies?
83 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $20M, and this round was close to the median.
Did Clio raise again after this round?
Yes: a Series D round in Sep 2019 of $250M.