Legal technology company Clio announced on Nov. 10 that it has closed what it calls one of the industry’s most significant and largest transactions to date. The firm closed its $1 billion purchase of vLex while raising $500 million in a Series G round that valued the company at $5 billion.

New Enterprise Associates led the Series G investment, joined by existing backers Technology Crossover Ventures, Goldman Sachs Asset Management, Sixth Street Growth, and JMI Equity.

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350 Legal Tech Experts Join Clio As $1B vLex Integration Begins

The funding round and the vLex acquisition are seen as a major step in the company's evolution from a cloud practice tool into a broader AI-driven legal platform. The company said the vLex deal would bring its internal workflow products together with Vincent AI, supported by a global legal database with more than 1 billion documents across 110 jurisdictions.

“This is a defining moment for Clio and for the legal industry,” Clio founder and CEO Jack Newton said in the company's statement. “We founded Clio to transform the legal experience for all, and this milestone brings that mission to a new horizon.”

More than 350 specialists in law, data, and technology from vLex will join the company as part of the deal. The company said Vincent AI will connect with Clio Work, Clio Manage, Clio Grow, and Clio Draft to form a unified system for research, drafting, practice tasks, and operational work inside legal teams.

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Clio Targets Big Law Firms With New Enterprise Division After 2 Strategic Acquisitions

Clio described the vLex deal as a key step in its move toward supporting larger firms and corporate legal departments. The company said that an acquisition in March brought ShareDo into the product family, which now operates under the name Clio Operate as a workflow and matter management system for enterprise clients.

Clio said that Clio Operate is already in use among major firms in the U.K., with availability extended into the U.S. and additional regions after the ShareDo transition. The company presented both vLex and Clio Operate as core pieces of a broader effort called Clio for Enterprise, a division built to meet the needs of global legal teams.

Clio said this structure seeks to link operational data with legal decisions through AI tools grounded in reliable legal sources.