Clio at $300M/year
Jan-Erik Asplund
TL;DR: After building a practice management SaaS for solo lawyers & SMBs and layering on marketing, payments, & accounting, Clio is seizing the AI moment to cross over from back office to front office with its AI copilot for law firms. Sacra estimates that Clio hit $300M in annual recurring revenue (ARR) as of June 2025, up from $235M at the end of 2024. For more, check out our full report and dataset on Clio.
Key points via Sacra AI:
- Circa 2008, law offices paid $10,000+ upfront for one-time licenses to use on-prem practice management software like Amicus or ProLaw—plus ongoing investment in services & training—inspiring Clio (2008) to bundle time tracking and client & matter management into a subscription, browser-based SaaS. While skepticism around storing client files in the cloud slowed Clio’s early adoption, 20+ bar associations gave cloud storage the greenlight in the early 2010’s—as tools like Google Docs (launched 2006) and Dropbox (founded 2007) took off, Clio found product-market fit with efficiency-seeking solo & small law firms that lacked full-time IT staff, monetizing through subscriptions starting at $39/user/month (Starter) up to $129/user/month (Complete).
- Since the launch of Clio Payments (2021), payments now drive the majority of net new revenue growth, with Clio reaching a Sacra-estimated $300M in annual recurring revenue (ARR) in June 2025, up from $235M at the end of 2024 (up 35% YoY from 2023), valued at $3B as of their July 2024 Series F for an estimated ~15x forward revenue multiple at the time. Compare to Thomson Reuters (NYSE: TRI) at $7.3B revenue in 2024 growing 7% YoY valued at $95B for a 13x multiple, LexisNexis (NYSE: RELX) at $12B revenue in 2024 growing 6% YoY valued at $99B for a 8x multiple, and legal AI research & drafting platform Harvey at $75M ARR, up 50% this year from $50M in December 2024, valued at $5B as of their June Series C for a 67x multiple.
- With its June 2025 acquisition of legal research platform vLex—and its 1B+ cases, statutes, and treatises from 200+ jurisdictions—Clio can combine its library of precedent with the lead-to-ledger data, document storage & workflows it already owns, giving solo & small law firms a Harvey-style AI assistant that can retrieve information, draft filings, and perform research. While Clio has mostly sold into SMBs—where firms run leaner, handle a higher volume of clients, and adopt SaaS (and now AI) more out of necessity—its 2025 acquisition of Sharedo gives it the enterprise-grade foundation to begin moving upmarket and selling into Am Law firms.
For more, check out this other research from our platform:
- Clio (dataset)
- Harvey at $75M ARR
- Ironclad at $150M ARR
- Harvey (dataset)
- Ironclad (dataset)
- Wade Foster, co-founder & CEO of Zapier, on AI agent orchestration
- Danny Wheller, VP of Business & Strategy at Hebbia, on vertical vs horizontal enterprise AI
- Hebbia (dataset)
- Glean (dataset)
- Writer (dataset)
- Zapier (dataset)
- Airtable (dataset)
- Anthropic (dataset)
- OpenAI (dataset)
- Mike Knoop, co-founder of Zapier, on Zapier's LLM-powered future
- Will Bryk, CEO of Exa, on building search for AI agents
Read more from
Clio revenue, growth, and valuation
Unlocked Report
Continue Reading
Read more from
Clay revenue, growth, and valuation
Unlocked Report
Continue Reading
Read more from
Harvey at $75M ARR
Free Report
Continue Reading
Ironclad at $150M ARR
Free Report
Continue Reading
Ironclad revenue, growth, and valuation
Unlocked Report
Continue Reading