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Bessemer Ventures leads $20m Series C round for lawyer workflow business Clio

26 Mar 2014

law-court5_lrgBessemer Venture Partners has led a $20m Series C financing round for legal industry cloud-based management platform Clio.

The company said the funding would be used over the next 12 months to accelerate product development and sales and fuel its international expansion.

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

Clio, which was launched in 2009, has legal professionals in 50 countries using the service.

Bessemer partner Trevor Oelschig said, “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.

“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.”

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