Welcome!

Containers Expo Blog Authors: Yeshim Deniz, Pat Romanski, Liz McMillan, Elizabeth White, Zakia Bouachraoui

Blog Feed Post

Clio Raises $20 Million Series C to Bring Legal Industry into the Cloud

Bessemer Venture Partners leads round as the firm invests deeper in vertical SaaS market; funding to drive aggressive growth

Dublin, IRELAND - Tuesday 25th March, 2014 - Clio www.clio.com, the most comprehensive cloud-based practice management platform for the legal industry, announced today that it raised $20 million in Series C financing led by Bessemer Venture Partners. Over the next 12 months, Clio will use the new funding to accelerate product development and sales, and fuel international expansion. The Series C funding brings total capital raised to $27 million.

As the vertical SaaS market takes shape, this investment is another proof point that cloud tech is hitting the tipping point of broad adoption by traditional industries like legal. Over 80% of lawyers in the U.S. practice at firms of less than 10 employees; these small firms rely on Clio to automate time-consuming administrative tasks, which allows them to focus on their core business.

Increasingly, we see SaaS companies strike gold by providing specialized solutions tailored to a specific vertical rather than going for a 'one-size-fits-all' enterprise software," said Trevor Oelschig, partner at Bessemer Venture Partners. "This investment in Clio furthers our strategy to find best-of-breed vertical solutions. Clio has already shown incredible traction in the legal space and demonstrated a deep understanding of how to tangibly improve the day-to-day workflow for lawyers."

Over the next 12 months, the company plans on doubling its headcount to more than 200. This includes aggressive growth in Clio's new North American sales office in Toronto, as well as new sales and support hires in Europe, where they recently opened a data centre in Dublin. The company recently released an iPhone application and will continue to aggressively invest in mobile. Clio is also introducing features to improve collaboration and efficiency.

"We offer our customers one of life's most precious resources: time," said Jack Newton, CEO and founder, Clio. "We've found that our users save an average of eight hours per week, giving them more time to spend on life outside of work. This funding will allow us to further our reach and hone our product to continue to help lawyers focus on the parts of their business they enjoy."

With the help of the cloud, Clio eases the process of practice management, billing, time tracking, and collaboration for law firms. There are no expensive servers to buy or rent and no need for technical staff to customize or maintain the software. Clio customers enjoy a seamless and secure experience whether accessing their account from a phone, tablet, or computer.

The $20 million C round included follow-on investment from Acton Capital Partners and Point Nine Capital, as well as new investment from Version One Ventures.

First launched in 2009, Clio has legal professionals in 50 countries using the service. For further information about Clio visit http://www.clio.eu/ or follow @goclio.

ABOUT CLIO
Clio is the most comprehensive cloud-based practice management platform for the legal industry. With the help of the cloud, Clio eases the process of time tracking, billing, administration, and collaboration for law firms of all sizes. Based in Vancouver, B.C. and launched in 2009, Clio has legal professionals in 50 countries using the service. Clio has raised $27 million from investors including Bessemer Venture Partners. Learn more at http://www.clio.eu/.

ABOUT BESSEMER VENTURE PARTNERS
Bessemer Venture Partners (BVP) invests in early-stage, hyper-growth startups, partnering closely with entrepreneurs to build durable businesses. BVP is a global firm with offices in Menlo Park, Cambridge, New York, Mumbai, Bangalore, Herzliya, Sao Paolo and Minecraft. With $4 billion under management, BVP invests anywhere from $100,000 to $75 million in innovative companies like LinkedIn, Yelp, Skype, Cornerstone OnDemand, Pinterest, Box and Twilio. Over 100 BVP companies have gone public. Learn more at bvp.com and twitter.com/BessemerVP.

European Media Contact:
Lena Ahad
Technology PR
[email protected]
Telephone (UK) +44 (0) 7908 725212

North American Media Contact:
Jack Newton
Clio
[email protected]
Telephone (Canada) +1 888 858 2546

Source: RealWire

Read the original blog entry...

More Stories By RealWire News Distribution

RealWire is a global news release distribution service specialising in the online media. The RealWire approach focuses on delivering relevant content to the receivers of our client's news releases. As we know that it is only through delivering relevance, that influence can ever be achieved.

IoT & Smart Cities Stories
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
JETRO showcased Japan Digital Transformation Pavilion at SYS-CON's 21st International Cloud Expo® at the Santa Clara Convention Center in Santa Clara, CA. The Japan External Trade Organization (JETRO) is a non-profit organization that provides business support services to companies expanding to Japan. With the support of JETRO's dedicated staff, clients can incorporate their business; receive visa, immigration, and HR support; find dedicated office space; identify local government subsidies; get...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
"Avere Systems deals with data performance optimization in the cloud or on-premise. Even to this day many organizations struggle with what we call the problem of data gravity - 'Where should I put the data?' - because the data dictates ultimately where the jobs are going to run," explained Scott Jeschonek, Director Cloud Solutions at Avere Systems, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
DXWorldEXPO LLC, the producer of the world's most influential technology conferences and trade shows has announced the 22nd International CloudEXPO | DXWorldEXPO "Early Bird Registration" is now open. Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)
CloudEXPO New York 2018, colocated with DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.