With a valuation of over $1bn, Clio sees its unicorn status and the rising acceptance of cloud-based legal tech software as a new chapter for the legal services industry.
Add Clio to the growing list of $1bn-valued legal tech unicorns. Today, the cloud-based practice management technology provider announced it secured $110m during a Series E round at a $1.6bn valuation.
The funding round, which was led by investment firm T. Rowe Price Associates with participation from OMERS Growth Equity, comes less than two years after Clio’s $250m Series D investment round in September 2019.
OMERS Private Equity manages private equity assets for OMERS, the defined benefit pension plan for municipal employees in Ontario.
OMERS Private Equity has been an active private equity investor for over 20 years and its portfolio currently consists of investments in 20 industry-leading companies headquartered across the U.S., Canada and Europe. Investments are aimed at steady returns to help deliver sustainable, affordable and meaningful pensions to OMERS members.
Source: PR Newswire
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