Clio Completes $1B vLex Acquisition, Secures $500M At $5B Valuation In Largest Legal Tech Deal

Core Insights - Clio has completed a significant $1 billion acquisition of vLex and raised $500 million in a Series G funding round, valuing the company at $5 billion [1][2] - The acquisition and funding are pivotal for Clio's transition from a cloud practice tool to a comprehensive AI-driven legal platform [2][3] Company Developments - The vLex acquisition will integrate Clio's internal workflow products with Vincent AI, leveraging a global legal database containing over 1 billion documents across 110 jurisdictions [2][3] - Clio's CEO, Jack Newton, emphasized that this milestone represents a transformative moment for both Clio and the legal industry [3] Strategic Focus - Clio aims to enhance its support for larger law firms and corporate legal departments through the vLex deal, which is part of a broader strategy to develop Clio for Enterprise [4][5] - The company has already begun utilizing Clio Operate, a workflow and matter management system for enterprise clients, among major firms in the U.K. and is expanding into the U.S. and other regions [5]