(Burnaby) Clio has completed a US$900 million (approximately C$1.2 billion) funding round, which the legal technology company says is the largest software fundraising in Canadian tech history.
The Burnaby, B.C.-based company says the Series F investment is based on a valuation of US$3 billion.
The funding round was led by New Enterprise Associates, whose portfolio includes investments in financial technology companies Plaid and Robinhood and cybersecurity company Cloudflare.
Also part of the round are Goldman Sachs Asset Management, Sixth Street Growth, CapitalG and Tidemark, joining existing investors TCV, JMI Equity, funds and accounts advised by T. Rowe Price Associates.
The Ontario Municipal Employees Retirement System (OMERS) is also back.
Founded in 2008, Clio has experienced constant growth and now employs 1,100 people.