Clio Raises $20M in Series C Financing
Clio, a Vancouver, Canada-based practice management platform for the legal industry, raised $20m in Series C financing.
The round was led by Bessemer Venture Partners, with participation from Acton Capital Partners, Point Nine Capital and new investor Version One Ventures.
The company, which has now raised $27m, intends to use the funds to accelerate product development and sales, and expand internationally over the next 12 months.
Launched in 2009 by Jack Newton, CEO, Clio provides a cloud-based platform for practice management, billing, time tracking, and collaboration for law firms.
The company plans to double its headcount to more than 200 by growing it in its new North America and Europe sales office in Toronto, as well as in its recently opened a data center in Dublin. It recently released an iPhone application and will continue to invest in mobile. Clio is also introducing features to improve collaboration and efficiency.
The company’s service is used by legal professionals in 50 countries.