TCV and JMI Equity Invest $250 Million in Future of Legal Technology
Bill Tilley
Leading Pioneer in Litigation Finance & Legal Tech | Strategic Consultant & Director | Driving Legal Transformation Across the US, UK, & EU
Legal Tech Leader, Clio, Receives Huge Investment for Law Industry Transformation
Earlier this month, legal software company Clio, announced that it was receiving $250 million in Series D funding from TCV and JMI Equity. According to the company press release, the funding will go to "expanding our product portfolio." The Clio Suite already includes Clio Manage (legal practice management software) and Clio Grow (client intake and legal CRM software). The next chapter will undoubtedly be focused on using technology to connect more clients to the right attorneys. Technology is at the forefront of a revolution happening in the legal industry, and this investment is only the beginning.
Trending for 2020
Clio is one of the industry leaders in cloud-based technology for attorneys. Over the past decade, the company has amassed a clientele of over 150,000 attorneys. The Canadian-based company introduced problem-solving technologies to law practices across the globe, including practice management software. This cloud-based software streamlines the way attorneys run their practice. The company now hopes to transform legal services by expanding their suite of products to be more 'client-centered' providing an unparalleled experience for customers seeking legal assistance.
Growth equity firms like TCV and JMI have regularly backed groundbreaking, software-based companies like Netflix and CampusLogic. Both firms provide capital for technology companies helping them grow and reach previously untapped potential.
Why Technology Matters
Companies like Clio understand that today’s consumer uses technology in every aspect of their lives. The way a person searches for services, in all industries, let alone in law has dramatically changed in the past decade. Most people do not own a phone book, and even if they are given a word-of-mouth recommendation, they are still checking online reviews before retaining their services. Technology has changed the way people think, the way people act, and the way people do business. The practice of law is no different. In order to succeed, attorneys must rethink the way they communicate with current and potential customers.
Today’s consumer has high expectations. They want a unique client experience, available at the touch of a finger. Utilizing technology now and in the future will only help you deliver on customer expectations.
Why wait? Learn more about how technology is changing the legal industry today. Amicus Media Group and Amicus Capital Services are here to help transform the business of law providing innovative solutions for every size law firm. Contact Amicus today at (888) 700- 1088 for more information.