The multi-million dollar boost to the Vancouver-born company, was acquired during a Series B financing round led by Acton.
“We are delighted to welcome Acton on board as a partner in Clio’s continued growth. Acton’s experience in building globally recognized companies will help us deliver a best-in-class product to a worldwide client base,“ said Clio founder and CEO Jack Newton.
Clio is a comprehensive web-based practice management product designed for solo practitioners and small to medium-sized law firms.
“We invested in the company back in early 2009 when it had only a handful of users. Today, Clio is the leading Cloud-based practice management solution for lawyers in North America and has thousands of customers,” said Point Nine Capital co-founder Christoph Janz.
The company began in 2007 and is the first investment in North America made from Acton’s Heureka Growth Fund.