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Acton Capital Partners leads $6 million investment in Clio Written by Charmaine Li on 31. January 2012

clio

clioMunich-based growth equity investor Acton Capital Partners today led a $6 million investment in cloud-based legal management tool Clio, a company also backed by Berlin-based VC Point Nine Capital.

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.

Point Nine Capital invests in Couchsurfing