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Goldman Sachs CDR (CAD Hedged)
Symbol GS
Shares Issued 700,000
Close 2024-07-22 C$ 24.41
Market Cap C$ 17,087,000
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Globe says Alphabet, Goldman get behind Canada's Clio

2024-07-23 07:12 ET - In the News

See In the News (C-GOOG) Alphabet Inc CDRs (CAD Hedged)

The Globe and Mail reports in its Tuesday edition that Clio, formally Themis Solutions Inc., has closed the largest growth capital financing by a Canadian technology company, a $900-million equity deal that values the company at $3-billion (all figures U.S.). The Globe's Sean Silcoff writes that ranks it among the country's most valuable homegrown tech players and surpasses the previous record set by 1Password, which raised $620-million in 2022. U.S. private capital giant New Enterprise Associates, a past backer of Uber, Salesforce and many Canadian start-ups, led the deal, an undisclosed portion of which went to buy stock from existing investors with the balance going to Clio. Other new investors include growth equity giants Goldman Sachs, Sixth Street Partners, Alphabet's growth equity fund CapitalG, and Tidemark Capital. Clio is among an elite group of Canadian start-ups that have grown into sizeable companies by selling on-line software on a subscription basis. Clio has built what it calls an operating system for small to medium-sized law firms: a cloud-based platform that lawyers use to manage their practices, from scheduling, billing and client onboarding to managing documents, and case files and even advertising.

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