Two Legal Tech Companies Make Forbes ‘Cloud 100’

Among the many world’s high 100 personal cloud computing firms are two within the authorized tech sector, based on Forbes Cloud 100 2024.

Included on this yr’s record are Icertis, an organization that gives contract intelligence software program, which is ranked thirty ninth, and Clio, a supplier of regulation observe administration software program, which ranked at 56th. That is Clio’s first time on the record.

Of Icertis, Forbes stated: “It claims to personal the biggest assortment of built-in contract datasets on this planet, with greater than two billion components that assist to coach its AI. In consequence, its annual recurring income surpassed $250 million as of February 2024.” Forbes famous that an $80 million Sequence F funding spherical in 2021 valued Icertis at over $2.8 billion.

Relating to Clio, Forbes stated: “Clio serves greater than 1100 mid-sized corporations and is endorsed by greater than 100 regulation societies and bar associations worldwide – together with all 50 state bar associations in the USA.” Forbes famous Clio’s latest $900 million Sequence F funding spherical at a $3 billion valuation.

Among the many elements thought of in compiling the record are market management, firm valuation, working metrics, and other people and tradition.

Choices are made by Forbes in collaboration with Bessemer Enterprise Companions and Salesforce Ventures. Word that Bessemer led Clio’s 2014 Sequence C financing spherical.

Associated: Unique LawNext Interview: CEO Jack Newton on Clio’s Document-Setting $900M Increase.