Vancouver-based legaltech company Clio is opening a permanent office in New York City.
The news: On Thursday, Clio announced it is establishing its US headquarters in New York, with plans for the office to reach full capacity in early 2027. Located in Manhattan, the office is the first dedicated US location for Clio, which already has locations in Vancouver, Toronto, Calgary, the UK, Australia, Ireland, Spain, and Colombia. In a statement, Clio said the new office is the culmination of its efforts to expand its US workforce. The company is currently hiring for several roles in New York.
From the source: “Establishing our US headquarters here reflects our confidence in where this market is heading and our commitment to being a long-term partner to the firms and legal teams driving that momentum,” Clio CEO and founder Jack Newton said. Newton noted that the new office puts Clio among the highest density of law firms and corporate legal departments in the US.
Following the thread: Clio’s move to New York comes after a banner year for the company in which it hit a series of milestones, including surpassing $500 million USD in annual recurring revenue and securing a $5 billion USD ($6.9-billion CAD) valuation. It also comes on the heels of a $1 billion USD acquisition of vLex—an AI research platform for legal professionals with more than two million users that Clio bought last year—and a $500 million USD Series G raise.
Final thought: With Clio’s recent headlines, making a move to the financial centre of the universe isn’t a surprise. Investment banks like Goldman Sachs estimate that nearly half of all legal work can be automated by AI, whetting the appetites of investors interested in the legaltech space. That kind of wind behind the sector’s sails, alongside an ARR that exceeds many of its US contemporaries, positions Clio to compete with major US legaltech firms like Harvey, Legora, and even Claude for Legal.
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Feature Image courtesy Clio.