Funding round
Clio Series F
Clio, which works in cloud-based legal practice management solutions in Burnaby, raised $900M in a Series F round announced on 23 Jul 2024, led by New Enterprise Associates, at a $3.00B post-money valuation. 9 firms took part, 5 of them already investors. It is Clio's fifth venture round on record; the one before was a Series E in Apr 2021.
$900M
Amount raised
$3.00B
Post-money valuation
$2.10B pre-money
9
Investors
1 lead
1.9x
Step-up from the Series E
$1.60B in Apr 2021
30%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Clio at $3.00B after the new money, 1.9 times the $1.60B of its Series E (Apr 2021). The $900M bought investors about 30% of the company. It came 39 months after Clio's Series E. It is 50% of the $1.79B Clio has raised in the venture rounds on record. Clio raised again 16 months later: a Series G round of $500M in Nov 2025, at $5.00B 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 27 Apr 2021, led by T. Rowe Price Associates, Inc. and OMERS Private Equity $110M$1.60B post-money
- Series F this round 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
New Enterprise Associates led the round with 8 other firms. New Enterprise Associates, Technology Crossover Ventures, JMI Equity and T. Rowe Price Investment Management, Inc. and 1 more had backed Clio before.
Lead investor
- New Enterprise Associates backs 286 venture-backed companies existing investor
Also in the round
- Goldman Sachs Asset Management new investor
- Sixth Street backs 34 venture-backed companies new investor
- CapitalG backs 70 venture-backed companies new investor
- backs 7 venture-backed companies new investor
- Technology Crossover Ventures backs 86 venture-backed companies existing investor
- backs 49 venture-backed companies existing investor
- T. Rowe Price Investment Management, Inc. existing investor
- OMERS existing investor
Joined the board: Tony Florence (New Enterprise Associates).
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
19 Series F rounds in Tech Companies within a year either side disclosed an amount; the median was $130M, and this round was 6.9 times the median. The closest in time, other companies' Series F rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 1 Jun 2024 | $150M | $1.20B | Silver Lake Waterman |
| Tech Companies | 8 Aug 2024 | undisclosed | not disclosed | Apax Partners |
| Tech Companies | 27 Sep 2024 | $90M | $1.46B | not named |
| Rippling Tech Companies | 22 Apr 2024 | $200M | $13.50B | not named |
| Cohesity Tech Companies | 11 Apr 2024 | $150M | $7.00B | not named |
| Tech Companies | 10 Apr 2024 | $130M | $900M | KKR |
| Tech Companies | 10 Oct 2024 | $100M | not disclosed | Georgian |
| Tech Companies | 29 Mar 2024 | $55M | not disclosed | General Catalyst |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Clio raise in its Series F round?
Clio raised $900M in its Series F round, announced in Jul 2024.
Who led Clio's Series F round?
New Enterprise Associates led it, with Goldman Sachs Asset Management, Sixth Street, CapitalG, Tidemark and Technology Crossover Ventures and 3 more.
What was Clio's valuation at the Series F round?
$3.00B post-money ($2.10B pre-money).
How does it compare with other Series F rounds in Tech Companies?
19 Series F rounds in Tech Companies within a year either side disclosed an amount; the median was $130M, and this round was 6.9 times the median.
Did Clio raise again after this round?
Yes: a Series G round in Nov 2025 of $500M at $5.00B post-money.