Clio hits $500M ARR as Anthropic enters legal AI market
Clio, a Canadian legal tech company, announced its annual recurring revenue reached $500 million, doubling from $200 million in mid-2024 after integrating AI in 2023. CEO Jack Newton attributes growth to LLMs' ability to process legal documents, similar to code. Competitors Harvey ($190M ARR) and Legora ($100M ARR) also surged. Anthropic launched Claude for Legal features, becoming both supplier and competitor to Harvey and Legora, which rely on Claude. Clio, valued at $5 billion after a $500M Series G in November 2025, acquired vLex for $1 billion to add AI research capabilities.
Key facts
- Clio surpassed $500 million in annual recurring revenue (ARR) in early 2026.
- Clio's ARR doubled from $200 million in mid-2024 to $500 million by late 2025.
- Clio integrated AI into its offering in 2023, accelerating revenue growth.
- Jack Newton is co-founder and CEO of Clio, a Canadian law firm management software company.
- Harvey, a legal AI startup, reached $190 million ARR by end of 2025.
- Legora announced $100 million ARR 18 months after launching its platform.
- Anthropic expanded Claude for Legal with new features, becoming a competitor to Harvey and Legora.
- Clio was valued at $5 billion after a $500 million Series G in November 2025.
- Clio acquired data intelligence platform vLex for $1 billion in 2025.
Entities
Institutions
- Clio
- Harvey
- Legora
- Anthropic
- vLex
Locations
- Canada