The valuation is nearly double the $1.6 billion achieved in 2021, crossing $200 million in ARR, and being profitable for years, according to CEO Jack Newton.
New Enterprise Associates (NEA) led the raise with over $500 million, joined by new investors. A substantial amount of the round was secondary financing.
Clio has raised nearly $1.3 billion in total since 2008. The mega-round stands out in an environment with limited venture raises of this scale.
Clio has experienced significant growth due to the adoption of cloud technology amid COVID-19, serving over 150,000 legal professionals globally.
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