On July 23, 2024, Clio completed a US$900 Million Series F funding, based on a US$3 billion valuation. The round was led by New Enterprise Associates and also includes new partners Goldman Sachs Asset Management, Sixth Street Growth, CapitalG, and Tidemark, who join current investors TCV, JMI Equity, funds and accounts advised by T. Rowe Price Associates, Inc. and by T. Rowe Price Investment Management, Inc., respectively, and OMERS. This deal marks the largest capital raise for cloud legal software to date as well as the largest venture investment and growth equity financing in Canada’s technology sector.
Cassels acted as Canadian counsel for Goldman Sachs.