Funding round
Clio Series E
Clio, which works in cloud-based legal practice management solutions in Burnaby, raised $110M in a Series E round announced on 27 Apr 2021, led by T. Rowe Price Associates, Inc. and OMERS Private Equity, at a $1.60B post-money valuation. 2 firms took part. It is Clio's fourth venture round on record; the one before was a Series D in Sep 2019.
$110M
Amount raised
$1.60B
Post-money valuation
$1.49B pre-money
2
Investors
2 leads
6.9%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Clio at $1.60B after the new money. The $110M bought investors about 6.9% of the company. It came 19 months after Clio's Series D. It is 6.2% of the $1.79B Clio has raised in the venture rounds on record. Clio raised again 39 months later: a Series F round of $900M in Jul 2024, at $3.00B 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 4 Sep 2019, led by Technology Crossover Ventures and JMI Equity $250M
- Series E this round 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
T. Rowe Price Associates, Inc. and OMERS Private Equity led the round.
Lead investors
- T. Rowe Price Associates, Inc. new investor
- backs 12 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, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
120 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $139M, and this round was 79% of the median. The closest in time, other companies' Series E rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Trax Tech Companies | 7 Apr 2021 | $640M | not disclosed | SoftBank Vision Fund and BlackRock, Inc. |
| Tech Companies | 7 Apr 2021 | $350M | not disclosed | Prosus and TPG |
| Tech Companies | 15 Apr 2021 | $205M | $1.34B | Owl Rock Capital |
| Tech Companies | 14 Apr 2021 | $200M | $4.00B | Sequoia Capital |
| Tech Companies | 22 Apr 2021 | $50M | $1.00B | not named |
| Contentsquare Tech Companies | 25 May 2021 | $500M | $2.80B | SoftBank Vision Fund |
| Attentive Tech Companies | 9 Mar 2021 | $470M | $7.00B | not named |
| Tech Companies | 16 Mar 2021 | $300M | $1.00B | SoftBank Vision Fund and Tencent Investment |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Clio raise in its Series E round?
Clio raised $110M in its Series E round, announced in Apr 2021.
Who led Clio's Series E round?
T. Rowe Price Associates, Inc. and OMERS Private Equity led it.
What was Clio's valuation at the Series E round?
$1.60B post-money ($1.49B pre-money).
How does it compare with other Series E rounds in Tech Companies?
120 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $139M, and this round was 79% of the median.
Did Clio raise again after this round?
Yes: a Series F round in Jul 2024 of $900M at $3.00B post-money.