Clio has completed its $1bn acquisition of legal research platform vLex, the largest merger in legal technology history, alongside a $500m Series G funding round led by New Enterprise Associates (NEA) that values the company at $5bn.

The funding round also included participation from existing investors TCV, Goldman Sachs Asset Management, Sixth Street Growth, and JMI Equity. Blackstone and Blue Owl Capital provided a further $350m debt facility to support the company’s expansion and strategic acquisitions.

The deal unites Clio’s legal management and workflow tools with vLex’s global legal intelligence database and Vincent AI technology, forming the Intelligent Legal Work Platform, an AI-driven system that integrates practice management, legal research, and document drafting.

“This is a defining moment for Clio and for the legal industry,” said Jack Newton, CEO and founder of Clio. “With vLex now part of Clio, and 350+ experts in law, data, and technology joining our team, we are combining the best minds and the best tools to build the world’s most powerful legal intelligence platform, a platform that will define how legal work is done for generations to come.”

The acquisition also strengthens Clio’s position in the enterprise legal market, expanding its reach from small and midsize firms to global corporate clients. It follows the company’s 2025 acquisition of ShareDo, now known as Clio Operate, which supports large-scale workflow and compliance management.

Oakley Capital, the former majority shareholder in vLex, has become a Clio shareholder as part of the deal.

Goldman Sachs served as Clio’s financial advisor, while J.P. Morgan advised vLex. Legal counsel included Osler, Hoskin & Harcourt, Wilson Sonsini, Gowling WLG, Pérez-Llorca, and A&O Shearman.

The transaction underscores accelerating investor confidence in AI-driven legal technology, as private equity and growth funds increase exposure to high-value digital infrastructure across professional services.

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