(Reuters) -Legal AI technology company Clio said on Monday it has raised $500 million in a funding round led by New Enterprise Associates (NEA), valuing the company at $5 billion.
The funding raise also included participation from existing investors TCV, Goldman Sachs Asset Management, Sixth Street Growth and JMI Equity.
Clio said it also completed its $1 billion acquisition of global legal research platform vLex.
Clio, which streamlines legal work for firms of all sizes, is used to manage cases, research, and workflows. It provides services to legal professionals in more than 130 countries.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Shailesh Kuber)