A leading cloud-based legal tech company has been valued at a staggering US$1.6bn after a major investment, which signalled “a historic moment in the growth of legal technology”.

The company, Clio, has announced $110m worth of funding to support an “explosive demand for cloud-based legaltech”, making the company the first global legal practice management unicorn. 

Clio’s founder and CEO Jack Newton said the investment “is indicative of the explosive demand for legal technology that empowers lawyers to be cloud-based and client-centred”.

He added that the investment will enable the firm to “continue to create a more equitable and accessible legal system by making ...

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