Just a day after Toronto-based Cohere secured a $500 million Series D at a $5.5 billion valuation, Vancouver-based legal tools platform Clio closed a $900 million Series F at a $3 billion valuation.

The new funding round was led by New Enterprise Associates and included new investors Goldman Sachs Asset Management, Sixth Street Growth, CapitalG, and Tidemark. Previous investors such as TCV, JMI Equity, funds and accounts advised by T. Rowe Price Associates and by T. Rowe Price Investment Management, and Omers Private Equity also participated in the round.

Clio’s software enables law firms to automate processes like client intake, accounting, and document management. The company has also integrated generative AI into its offerings. Its Clio Duo generative AI solution assists lawyers with routine tasks and provides analytics to enhance efficiency. The AI platform includes audit log functionality for court discovery.

“While we’re immensely proud of our growth to date, the real opportunity lies ahead of us,” said Jack Newton, founder and CEO. “AI is ushering in an exciting and important new era for legaltech, and Clio is leading that transformation. There’s much to accomplish for the success of our customers so they can thrive in an economy that embraces technology in every interaction.”

Clio has surpassed $200 million in annual recurring revenue and employs more than 1,100 people. The company previously raised a $110 million Series E at a $1.6 billion valuation. Founded in 2008, Clio has now raised a total of $1.3 billion.

While the U.S. often dominates the venture market, this week, the Canadian startup ecosystem has taken center stage with both Cohere and Clio securing significant investments. In fact, Clio’s new raise is the largest by a Canadian startup ever, surpassing Toronto-based 1Password’s $620 million Series C that valued the cybersecurity startup at $6.8 billion.

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