Clio Completes Historic $1 Billion vLex Acquisition, Announces $500 Million Series G at $5 Billion Valuation, Plus Exclusive Interview with CEO and CFO — from lawnext.com
Legal technology company Clio has completed its $1 billion acquisition of vLex, marking the conclusion of the largest deal in legal tech history, and has simultaneously closed a $500 million Series G funding round, along with a $350 million debt facility, valuing the combined company at $5 billion, and clearing the way to move forward on creating an unprecedented unified platform that spans both the business and practice of law.
With the deal now closed, Clio becomes a company with $400 million in annual recurring revenue and a customer base of 400,000 legal professionals, it says.
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“This is a defining moment for Clio and for the legal industry,” said Jack Newton, Clio’s founder and CEO. “We founded Clio to transform the legal experience for all, and this milestone brings that mission to a new horizon.”
The transaction brings vLex’s 350-plus employees – including experts in law, data and technology – into Clio’s organization, creating what Newton calls “the world’s most powerful legal intelligence platform, a platform that will define how legal work is done for generations to come.”
By combining practice management, research, drafting, and firm operations into connected AI-powered workflows, the platform aims to enable legal professionals to move from insight to action with greater speed and precision.