Funding round
Clio Series D
Clio, which works in cloud-based legal practice management solutions in Burnaby, raised $250M in a Series D round announced on 4 Sep 2019, led by Technology Crossover Ventures and JMI Equity. 2 firms took part. It is Clio's third venture round on record; the one before was a Series C in Mar 2014.
$250M
Amount raised
Not disclosed
Post-money valuation
2
Investors
2 leads
Valuation
What this round says about the price
Clio did not disclose a valuation in this round. It came 66 months after Clio's Series C. It is 14% of the $1.79B Clio has raised in the venture rounds on record. Clio raised again 19 months later: a Series E round of $110M in Apr 2021, at $1.60B post-money.
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 25 Mar 2014, led by Bessemer Venture Partners $20M
- Series D this round 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
Technology Crossover Ventures and JMI Equity led the round.
Lead investors
- Technology Crossover Ventures backs 86 venture-backed companies new investor
- backs 49 venture-backed companies new investor
Joined the board: Amol Helekar (TCV), Jake Reynolds (TCV), Matt Emery (JMI Equity), Sureel Sheth (JMI Equity) and Mark Britton.
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing and scaling operations.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
Comparable rounds
How it compares
111 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 5.0 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Automattic Tech Companies | 19 Sep 2019 | $300M | $3.00B | Salesforce Ventures |
| Rebel Foods Tech Companies | 23 Sep 2019 | $125M | $525M | Sequoia Capital and Sequoia Capital India |
| Tech Companies | 3 Sep 2019 | $51M | not disclosed | Weatherford Capital and 8VC |
| Tech Companies | 8 Sep 2019 | $36M | not disclosed | Valor |
| Tech Companies | 24 Sep 2019 | $19M | not disclosed | not named |
| RigUp Tech Companies | 10 Oct 2019 | $300M | $1.90B | Andreessen Horowitz |
| ShareChat Tech Companies | 15 Aug 2019 | $100M | $650M | |
| Tech Companies | 20 Aug 2019 | $73M | not disclosed | Goldman Sachs and Ping An Global Voyager Fund |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Clio raise in its Series D round?
Clio raised $250M in its Series D round, announced in Sep 2019.
Who led Clio's Series D round?
Technology Crossover Ventures and JMI Equity led it.
What was Clio's valuation at the Series D round?
It was not disclosed.
How does it compare with other Series D rounds in Tech Companies?
111 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 5.0 times the median.
Did Clio raise again after this round?
Yes: a Series E round in Apr 2021 of $110M at $1.60B post-money.