Clio Just Hit a $5 Billion Valuation and Bought a Billion-Dollar Research Platform — But Its Accounting Still Runs on QuickBooks

Clio closed a $500M Series G at a $5B valuation and completed a $1B acquisition of legal-research platform vLex. Yet the money is flowing into AI and research, not the financial backbone firms run on every day — Clio still leans on QuickBooks and Xero for accounting. Here's what the news signals for how you should evaluate legal tech.