Burnaby-founded Clio has cemented its place among the world’s most valuable legaltech companies, closing a $1 billion acquisition and half-billion dollar funding round in one of the largest transactions ever in the sector.
Clio announced it has completed its US$1 billion acquisition of legal research company vLex, marking what it calls the largest M&A transaction in legal technology history. The deal coincides with Clio’s US$500 million Series G round, led by New Enterprise Associates (NEA), and values the company at US$5 billion.
Existing investors TCV, Goldman Sachs Asset Management, Sixth Street Growth, and JMI Equity also participated, alongside a new US$350 million debt facility led by Blackstone and Blue Owl Capital.
“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.”
The acquisition adds vLex’s Vincent AI—a system trained on more than one billion legal documents across 110 jurisdictions—to Clio’s platform. Together, they form what Clio calls the “Intelligent Legal Work Platform,” which connects practice management, research, drafting, and operations through AI-powered workflows.
The move also accelerates Clio’s enterprise expansion. The company recently launched Clio Operate, an adaptive work management platform for large firms and corporate legal departments, built from its earlier acquisition of U.K. software company ShareDo. With vLex and Clio Operate now integrated, Clio plans to serve firms “of every size,” from small practices to global organizations.
Oakley Capital, vLex’s majority shareholder, has taken Clio equity as part of the deal—an endorsement of the Canadian company’s long-term growth strategy.
NEA Co-CEO Tony Florence said the round reflects “deep confidence in Clio’s financial performance and its vision to lead the next era of legal technology.”
Clio’s rapid evolution—from cloud practice management to AI-powered legal intelligence—illustrates the rising global influence of B.C.’s tech sector, where the company first launched in 2008 and now employs hundreds worldwide.